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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15979
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Hi, I am buying a house in UK and my father has send me £10,006

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Hi, I am buying a house in UK and my father has send me £10,006 as a gift to my UK account from India. This would form part of the deposit for the house. Can you please let me know if there are any tax implications? I have mixed reviews about this topic. My mortgage advisor said its ok as its a gift, all I need is a letter stating its a gift.

Recipients of gifts do not pay tax on them in the UK. Assuming your father is non-UK domiciled and the gift is made from non-UK sources, there will be no exposure to UK Inheritance Tax should your father die within seven years of making the gift.

I hope this helps but let me know if you have any further questions.
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Customer: replied 3 years ago.
Thank you it really helps :)
Customer: replied 3 years ago.
My father in law who lives and work in uk is also gifting us £10,000. Is there tX on this then?
Thanks for accepting my answer.

Is your father in law UK domiciled? Take a look here for infromation on what domicile is. It isn't the same as UK resident.
Customer: replied 3 years ago.

Hi, father in law is Indian by origin (holds an indian passport), he is settled here and works here in UK and has a permanent residence as well.

I had a look at the link and it looks to me like he's a domicile by choice?


If he is considered to be UK domiciled and he makes a gift to you, you won't pay UK tax on it. However, should he die within seven years of making the gift its value will be included in his estate for Inheritance Tax purposes. Take a look here and here for information on IHT.