Will I Be Liable to Pay Tax on Money That I Have Been Given?

View All Questions View Questions From:

Will I Be Liable to Pay Tax on Money That I Have Been Given?

Question

I may be given some money, between £5,000 and £20,000, when my father inherits some money. Will I be liable to pay tax on this sum that I receive?

 

Answer: No, there is no tax to pay on the receipt of a gift in the scenario you describe, under normal circumstances.

Landlord Tax Secrets

 

 

Get our SEVEN FREE Landlord Tax Saving Strategies -  

Guaranteed To Slash Your Property Tax Bills!


Click here for more.

 

 

 


Ask a Question