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Where Taxpayers and Advisers Meet

Tax on transfers between brothers.

ollie
Posts:17
Joined:Wed Aug 06, 2008 3:31 pm
Tax on transfers between brothers.

Postby ollie » Sun Oct 24, 2021 7:29 pm

Hello. Is a transfer of money (say £10,000) to a brother taxable? The money comes from a sale of property on which CGT has been paid.
Tried to find the answer on the internet but can only find information about inter-generational transfers.
Thanks in advance for any help.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Tax on transfers between brothers.

Postby maths » Sun Oct 24, 2021 9:34 pm

No tax on the transfer.

ollie
Posts:17
Joined:Wed Aug 06, 2008 3:31 pm

Re: Tax on transfers between brothers.

Postby ollie » Mon Oct 25, 2021 12:16 pm

Many thanks, maths.


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