Cash Gift

my fiances father is selling hes home and gifting us the proceeds, we are currently renting, combined proceeds from fiances father and monies we have are going together to buy s new larger home with which we will all reside together the deeds will be in both my fiances name and mine, will we owe tax on the gift, or will I as hes not my father, the proceeds are not currently over the tax inheritance threshold.

Hi

There are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to inheritance tax regarding any inheritance tax implications (How Inheritance Tax works: thresholds, rules and allowances and Inheritance Tax: general enquiries).  You may also want to review the guidance at (How Inheritance Tax works: thresholds, rules and allowances). 

Thank you