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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 31078
Experience:  International tax
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My family would like to transfer a gift into my UK bank

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My family would like to transfer a gift into my UK bank account from overseas. Do I need to pay tax on this?
JA: Have you talked to a tax professional about this?
Customer: no
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: I just need to know if Tax is applicable on gifts and what are the limits for any tax brackets

No unless your family is UK tax resident and passes away in less than 7 years.

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Customer: replied 17 days ago.
Are you saying that no tax is applicable for a gift transferred into my account - e.g £5000?

Correct