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
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