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  • RE: Gift tax for cash gift from overseas

    Hi, I am a BN(O) holder but yet to become citizen yet (not fulfilled the 5 + 1 BNO scheme yet) and is not a tax payer in2021/22 in the UK (come to the UK in Sep 2022), I will start my first job in Mar 2023 thus I will be a tax payer in 2022/23. I bought a property in the UK this year, my family (from Hong Kong, tax payers and residents of Hong Kong) will transfer me a cash gift for example £100,000 GBP for helping me to purchase a property. May I know if any taxes needed to be paid for this £100,000GBP in this example? Based on "clear capital" requirements. Do I have time limit should be following the requirements that I only can receive the cash gift between a year from the frist year (Sep 2022 -Sep 2023)?