My mum wants to give me a gift of 45,000 pounds. Can you tell me what the tax implication would be for me and her in doing this. I am a British citizen but live in Australia so for tax purposes am non resident...do I have to pay any tax on this gift in the UK?
Thanks
Gift
2 posts • Page 1 of 1
Re: Gift
by pawncob on Sun Aug 16, 2009 7:16 pm
Normally no taxes arise on capital gifts at this time.
But if she dies within seven years, and her chargeable estate at that time is over £325k, including gifts, IHT MAY be chargeable.
More details required for a definitive response.
But if she dies within seven years, and her chargeable estate at that time is over £325k, including gifts, IHT MAY be chargeable.
More details required for a definitive response.
With a pinch of salt take what I say, but don't exceed your RDA
- pawncob
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2 posts • Page 1 of 1
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