i know gifts are tax free for the receiver and the receiver does not owe any tax on them but;
if i gave the gift from money i had not declared, is the person who received the gift liable to return that money to the tax man ?
in my example a friend has bought a house with money i gifted them. if i now owe a lot of money to the tax man and am bankrupt, do they have any right to claim the house or take action against the gift receiver?
if no tax was paid on the monies gifted, could they argue it was not mine to give?
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