I apologize in advance for my lack of knowledge in this matter. I am new to this forum.
We researched as much as we could on line but did not find any answers to our issue.
We are Canadian citizens, living in Canada. Our daughter, also born in Canada currently living in the UK (almost 5 years) would be considered a non dom UK resident to the best of our knowledge.
To get her onto the property ladder, we are hoping to give her a small amount of money to get her going. We understand the $3,000 annual gift exemption from inheritance tax, and we also understand the 7 year rule on gifting larger amounts up to the 325,000 inheritance tax free limit. What we do not know is whether these regulations apply to monetary gifts coming to her from outside the UK.
Can anyone provide some insight?
Any information would be greatly appreciated. Thank you in advance.
M
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