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  • RE: Gift tax for cash gift from overseas

    I am British Citizen and my brother is US Citizen and he is gifting me some money around 30K to 50K to buy a house in the UK. Since he lives in US, so he will be sending this money from his US bank account to my account in UK. So do I need to pay any tax on that or should I also include this in my self-assessment ? The reason why I am asking is because I think I have read somewhere that we cannot receive more than 3000 worth of the gift money from someone either abroad or local.