Skip to main content

This is a new service – your feedback will help us to improve it.

  • TAX ON OVERSEAS GIFT

    Hi, I am jobless at the moment and my mortgage fix term is going to end soon. I am trying to get some help from my friend in India. I have below queries; 1) If I receive £100,000 in my bank account from India as a gift to repay my mortgage. Do I need to pay any tax on the amount! 2) If I try to get a loan of £100,000 from India then would there be any tax implications! Also, please could you confirm whether I need to report that money to HMRC. Thank you