Large Gifts

[bubb95]

Hi.
I wish to gift approximately £120,000 in total, to two members of my family with a view to having it gifted back to me.
I am dying of heart failure at 29, but my doctors are giving up on me. Therefore I am considering a protest which will border, but not equal slander, in order to achieve investigations and treatment. I am concerned about incurring a large fine and so wish to rid myself of my savings prior to this protest. It is estimated I have between one and ten years to live, but my total worth is not much over £130K so IHT is no issue

My mother has a very small income and my sister has a good income of approx £45K. . My concern is that my sister or mother will have to pay some kind of income tax on this amount. Please could you tell me of any tax they may occur, or if things work out, that I may incur when receiving i back?

Thank you so much in advance, for any information you can give.
M

[Lee Young]

Making a gift "with strings" wil lnot protect you (or that money) if you are successfully sued for slander. Moreover how would yo afford to live?

There would be no income tax on the gifts if you did make them.

[3point14]

Go to Vegas, put half on black, minus 1/35th for zero and the other half on red. Do this twice, losing a small fraction and you will be able to get certification that you have lost two sets of £60k (forgetting about the other separate winning side) thus showing nil assets. Meanwhile your real cash is hidden away say in a bearer bond or other non traceable instrument.

[Generix]

Go to Vegas, put half on black, minus 1/35th for zero and the other half on red. Do this twice, losing a small fraction and you will be able to get certification that you have lost two sets of £60k (forgetting about the other separate winning side) thus showing nil assets. Meanwhile your real cash is hidden away say in a bearer bond or other non traceable instrument.

Can you really still get bearer bonds?! Thought they were just a Hollywood film accessory nowadays?

[Incredulum]

Otherwise known as dirty £20 notes...

[Budget83]

Wow thats new one on me