Tax implications on a financial gift

Tax implications on a financial gift

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a4cabrio

Original Poster:

906 posts

160 months

Saturday 4th July 2015
quotequote all
I'm in the process of buying a house and my parents have provided me with a £38,000 deposit. My conveyancing solicitor sent me an email/letter on Friday outlining a few things about the deposit which aren't a problem, but the last paragraph stated the gift may have tax implications and that I'd be best speaking to an accountant about this as my solicitor cannot advise me on this situation.

Could someone tell me which tax implications I may face please??

a4cabrio

Original Poster:

906 posts

160 months

Sunday 5th July 2015
quotequote all
Thanks, there's plenty of life left in my parents so all should be fine on that score.