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Where Taxpayers and Advisers Meet

Money received from abroad

sigmunia
Posts:1
Joined:Sun Sep 25, 2016 10:50 am
Money received from abroad

Postby sigmunia » Sun Sep 25, 2016 10:55 am

Hello

I will be receiving money from my parents who live abroad. All the money will be spent for a house deposit. The amount will be about £16k. Do I need to declare it with HMRC?

Thank you

GlobalTaxAdviser
Posts:633
Joined:Fri Dec 05, 2014 1:18 am

Re: Money received from abroad

Postby GlobalTaxAdviser » Sun Sep 25, 2016 12:49 pm

No tax applies on cash gifts.


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