Alice Sverdlik
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RE: Gift tax for cash gift from overseas
I am a UK resident originally from the US, and my parents would like to give a gift to my British husband and me for our anniversary. We believe the gift will be tax-free if it is a cash gift, based on HMRC's responses above. But we had some additional queries: 1) Does it still count as a cash gift if it is sent via check or online transfer like PayPal? 2) Is there a limit to how large a gift we can receive tax-free if sent via PayPal or via check? 3) If so, does this limit differ for myself as their daughter vs. my husband as their son-in-law? Thanks very much!