Hi All,
Quick (hopefully) query:
I work for a Ltd company (company A), which was purchased 2-3 years ago by company B. My line manager, the managing director of company A, recently recieved an earnout payment as a result of the performance of company A.
He now wants to give me a personal gift of approx £30k. This would not be through PAYE or through the Ltd company, purely a personal gift from him to me.
Are there any tax implications that he or me need to be aware of, apart from inheritance tax if he passes away within 7 years? I have looked and gifts seem to be allowed with no tax implications?
Thanks
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