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Posted Sun, 01 Sep 2024 07:20:31 GMT by tony Skerl
If my mother sells her house and her estate is worth £300,000 and she gives myself and my sister £150,000 each while she is alive are we liable for tax ?
Posted Thu, 05 Sep 2024 15:35:45 GMT by HMRC Admin 20 Response
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.  
Thank you.

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