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Where Taxpayers and Advisers Meet

my sons gift

dennymid
Posts:1
Joined:Fri May 27, 2016 11:35 am
my sons gift

Postby dennymid » Fri May 27, 2016 11:43 am

My son is disabled and at 32 needs his own home he is a British subject born here and lives in in England with his elderly parents
If his aunt now an American citizen and living in the USA gave him just the cost of the flat and buying expenses say £200,000 what tax would my son be liable for as he only has is Disability income etc.

Lee Young
Posts:2707
Joined:Wed Aug 06, 2008 3:26 pm
Contact:

Re: my sons gift

Postby Lee Young » Fri May 27, 2016 3:13 pm

There would be no taxes to pay in the UK, but he would to be sure that any means tested benefits are not affected by the gifts.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701


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