My parents live in cyprus and have a uk bank account in gbp. My mum wants to give me 40k do I have to pay tax on this or do I only pay tax on the interest earned.
|
My parents live in cyprus and have a uk bank account in gbp. My mum wants to give me 40k do I have to pay tax on this or do I only pay tax on the interest earned.
This would come under Capital Gains Tax as it is over the £10,600 threshold.
More information here: HM Revenue & Customs:
| All times are GMT -7. The time now is 05:46 AM. |