Sylwester

Hi, My partner and I have just started the process of buying our first home, and part of our deposit will be a gift from my parents. From what I’ve found so far, gifted money should remain tax-free as long as it doesn’t generate taxable income. I plan to keep the funds in an ISA (since I still have some tax-free allowance left) and Premium Bonds until we complete the purchase. Would any interest or returns earned in these accounts count as taxable income? Many thanks!