F Chan
Joined: 4/1/2023
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RE: Gift tax for cash gift from overseas
My dependent is a full time university student (BNO 5+1 dependent visa from Hong Kong) and does not work in UK now. I gifted her a lum sum of cash before entering into UK in order to support her tuition fee, rental and sundry expenses. She placed all the cash into the bank account for fixed depsosits in order to earn monthly interest. Does she need to file the self assessment tax return about the interest income that was arrived from the Fixed Deposits?