Cash gift - self assessment?

[SantaMonicaPier]

I am likely to receive a lump sum (no idea how much) as a gift from overseas via bank transfer. Am I right in thinking I would need to declare any tax received on this in my annual self assessment (I believe the first £1000 a year of interest received is tax free) but not the lump sum itself as it isn't earnings? I would likely transfer the money straight to my mortgage account so any interest received would be minimal. Thanks in advance.

Not sure what the answer is but HMRC have a self assessment helpline. It may be worth calling them to get an answer. If you do, could you please update here. Thanks

It's not gain or income, you don't declare inheritance / gift on self assessment. If there's e.g. interest, gain on sale of a gifted asset etc, then you declare that in the usual way.