HMRC Admin 10 Response

Hi Daria Kosova
There are no income tax implications on the receipt of a cash gift unless the income generates interest or dividends.
These would then potentially be subject to tax.  
Further guidance can be found here:
Tax on savings interest
and
Tax on dividends
Thankyou.
Regards.

 

Hi
There are no income tax implications on the receipt of a cash gift unless the income generates interest or dividends.
These would then potentially be subject to tax.  
Further guidance can be found here:
Tax on savings interest
and
Tax on dividends
Thankyou.
Regards.
 

Hi Joseph P
You can amend the 20/21 tax return before 31/01/23.  
You should only declare no on the SA106 if the country actually stops you from removing the income.
There is no tax relief - other then the personal savings allowace that covers both UK and foreing interest.
You cannot claim any expenses to reduce the figure.
Thankyou.
Regards.