Does money from family count as income UK?
Does money from family count as income UK? Here, the rules are bit simpler – HMRC doesn't count cash gifts as income, so you won't have to pay any income tax on cash gifts received from parents (or grandparents for that matter). However, if you make any income from that gift, even if it's interest earned in a savings account, you may be liable to pay tax on it.
How much money can you transfer without being reported UK?
International money transfer limits There are no official limits on how much money can be sent to and from the UK. However, the Financial Conduct Authority (FCA) and HM Revenue & Customs (HMRC) will monitor the transfer and may take action if they have reason to believe it is linked to illegal activity.