HMRC Admin 25 Response

Hi Moises,
There are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to Inheritance Tax regarding any Inheritance Tax implications:
Inheritance Tax: general enquiries
You may also want to review the guidance at:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. 

Hi AB CD,
Please refer to guidance at

CG13060 - Compensation: compensation for deprivation of foreign assets: compensation received on or after 6 April 2010 (1 April 2010 for companies): TCGA92/S268B

You can use the average exchange rate if applicable
Thank you. 

[Post edited - HMRC Admin]

Hi AB CD,
The foreign tax credit is only applicable to other source of income that it has been deducted against and would be limited to the UK tax that was due. EIS relief cannot be set against FTCR.
See further guidance here:
HS341 Enterprise Investment Scheme — Income Tax relief (2023)
Thank you. 

Hi Sarah Knowles,
As there is no income from these, there is nothing to declare.
Thank you. 
 

Hi Venus,
Please refer to:
Tax on your UK income if you live abroad
Thank you. 

Hi BritishAl23,
If this is the DDS that you are refering to, yes.
Thank you. 

Hi alekswrites,
No, there are no tax implication of a cash gift.
However, any interest or dividends that this then generates is taxable income.
Thank you. 

Hi Md80,
You cannot open two Cash ISA in the same year, you will now need to wait until next year.
Thank you. 

Hi John Tester,
You can update this on your personal tax account.
If you would rather discuss it on the phone please call 0300 200 3300.
Thank you. 

Hi hkwfh,
Yes as foreign income is Self Assessment criteria.
Thank you.