SaiGrandhi
Joined: 5/22/2023
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RE: Gift tax for cash gift from overseas
Hi, I am a skilled NHS worker (doctor) working in the UK, paying tax in UK. However,I am an Indian Passport holder. I wanted to ask if there has been any recent changes in taxation on receiving money from parents and family abroad? - My father wants to send approx 20000£ to UK from India? - Do I have to pay any tax on it? - I do not have a self assessment presently as I have PAYE from NHS every year. Do I need to fill self assessment because of the gift? - If I transfer the money into stocks or shares ISA and earn interest/profit on it, do I need to pay any tax on the profits? Many Thanks.
Name removed Admin.