This question has been asked before but I couldn't find an exact scenario, hence the post below.
My wife expects to receive anywhere between £100k to £300k from her father from India. We both are UK residents and passport holders.
The reason for the transaction would be linked to a potential property sale linked to her name (we are checking if the property is in her or father's name). If the property is not in her name, both parties are happy to structure it as a one-off gift. The reason for variability in the amount is simply a discretion to be agreed between father and daughter.
Would either scenarios carry any income/CGT/IHT liability? What are the repercussions of structuring this linked to a property sale or one-off gift?
Does she need to file or report anything of this amount coming into her account, e.g. source of funds?
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