What can I bring back from the US?

Does anyone know the limits of what we can bring back into the UK after being back home (in the US) for the holidays? I seem to remember £140 in goods, but what about gifts that you receive? Do they expect you to have receipts for everything? And if you have dollars, is there a cap on how much can you bring back? (And any tips on where you'd get the best exchange rate in converting dollars into pounds?)

Thanks,

Clarelynn

Hi neighbour!

I wasn't aware of there being any limits... and when i come back from the US, i usually have TONS of stuff. 
It's never been an issue at all... not sure if i've just been lucky, or... 

Are you going over for Xmas?

Just take the tags off, remove the original packaging and don't worry about it. I brought back a whole new wardrobe, a suitcase full of groceries, and a new portable DVD player last month and didn't have a problem. Of course, what Customs doesn't know won't hurt me, either. 

Yep, Florida-bound next week. Sunshine and warmth! 

I had a few things shipped to my brother's, which he'll bring down, and I wanted to do a little other shopping besides.

Hope you have a good time!

And as Paula said... i wouldnt worry about it.
I've been doing this back & forth thing for over 20 years and have never been questioned about it!