Robert812

Thank you for your reply, but I’m not sure if it directly addresses my post, as it doesn’t seem to answer the three specific questions I originally raised, nor does it fully relate to my situation. I have already reviewed the guidance in the two articles you provided, and I appreciate you sharing them. However, my case involves funds that are not my own savings but rather savings and dividends from my relative’s business abroad. They wish to gift this amount to help me and my family purchase a house in the UK. For clarity, here are the three original questions again, directly related to the scenario described above: 1. Will this amount be subject to UK tax? 2. What should the sender write in the bank transfer description to clarify that it’s a gift and not taxable? 3. Do I need to declare this to HMRC? Thank you in advance for your time and assistance.

Good evening, A relative from overseas would like to gift me approximately £200,000 to help with purchasing a home in the UK. The funds are from their savings and investment dividends, on which taxes have already been paid in their country. I am a British citizen, living and working here in the UK. I’ve received conflicting advice on whether this amount might be taxed by HMRC, so I have a few questions: 1. Will this amount be subject to UK tax? 2. What should the sender write in the bank transfer description to clarify that it’s not taxable? 3. Do I need to declare this to HMRC? Thank you very much for any guidance.