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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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My mother-in-law, who is Turkish and lives in Turkey, is giving

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My mother-in-law, who is Turkish and lives in Turkey, is giving my wife a large cash gift. Are we liable to pay tax on it?
Hello and welcome to the site. Thank you for your question.

There is no tax on cash gifts received. As a recipient of a gift, you receive it tax free.
As it is a large cash gift, you are best advised to have it properly documented confirming it is a gift and unconditional. This would help with any questions HMRC may have in the future and also comply with Money Laundering regulations with the bank.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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