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Gift of money from non family member - is tax to be paid
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Posts: 543 Forumite
in Cutting tax
Hi
Does anyone know how this would work.
A gift (not a loan) of money is given from a benefactor to a recipient. Say £10k. They are not family members.
The benefactor is not a UK tax payer as they pay tax in their own country.
The recipient lives in the UK.
Would the gift be seen as taxable income the recipient?
Thank you
Does anyone know how this would work.
A gift (not a loan) of money is given from a benefactor to a recipient. Say £10k. They are not family members.
The benefactor is not a UK tax payer as they pay tax in their own country.
The recipient lives in the UK.
Would the gift be seen as taxable income the recipient?
Thank you
0
Comments
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No - there are no taxes payable by the recipient on gifts in the UK. All the other details that you have mentioned are irrelevant,0
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thank you...0
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NO UK tax for the recipient,
can't comment on their obligation in other tax regimes.0 -
thank you too...0
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