T.shaikh
Joined: 7/4/2024
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Tax on cash gift from parents overseas
Hi Admin, I am an Indian citizen and I don’t have an ILR yet. My father wants to transfer a cash gift of £200,000 from overseas to help me buy a property here. I wanted to enquire if there are any tax implications on the money transferred? Also, do i need to declare this amount to HMRC? Thank You.