Anita Nagy
Joined: 1/7/2022
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RE: Gift tax for cash gift from overseas
Hi, I am a Hungarian citizen tax paying UK resident. My mom came to visit me at Christmas from abroad and she gifted me £5000 in cash. Do I have to declare this and do I pay tax on it? Also she wants to gift me £5000 every following year and she wants to transfer money from her bank account in Hungary to my UK bank account. My question is the same: do I have to declare this and do I pay tax on it?