Tax on gift?

Author
Discussion

fakenews

Original Poster:

452 posts

78 months

Monday 15th January 2018
quotequote all
I helped a Dubai based mate when his Dad died back here. He's just received the inheritance and wants to give me £k for my time and effort (I said no but he won't take no for an answer and I'm just going to use it to see him later in the year).

It's coming from his personal Dubai account but am I right in thinking this would be treated as a normal gift and would incur no tax?

Jockman

17,917 posts

161 months

Monday 15th January 2018
quotequote all
yup.

Eric Mc

122,144 posts

266 months

Monday 15th January 2018
quotequote all
As long as it is a pure gift, it's not taxable.

If it's in reward for work done, maybe it's not really a gift.

fakenews

Original Poster:

452 posts

78 months

Monday 15th January 2018
quotequote all
Eric Mc said:
As long as it is a pure gift, it's not taxable.

If it's in reward for work done, maybe it's not really a gift.
I see your point Eric and it's something I questioned. The work done would be 'helping a friend in need' - making calls, organising a venue (wake) and running various old people about.