Any tax on money recieved thru western union by frens and relatives

[Ishika]

Hello. I am a salaried employee IN UK. Is their any tax implication on the money received via western union from frens and relatives abroad monthly once or twice.

[bd6759]

That depends on why they are giving you money

[TheAccountancySolutions]

The limit for eligible cash transactions is €10,000 (£8,361) and is extended to receiving as well as making payments in cash. If you have received anything more than this limit one-off or aggregate in one tax year, I would advise putting a note in your self-assessment with the transaction details, nature and where you have received it from.