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Posted Thu, 05 May 2022 09:29:06 GMT by Roy_F
If via tenants in common I am gifted 1/3 or my parent's house, accepting all the IHT is understood, what do I declare to whom (if anything) in terms of it being a "gift" worth over the £3k gift limit ? Thanks.
Posted Wed, 11 May 2022 09:43:41 GMT by HMRC Admin 19

You are not required to declare a gift of property from a parent to HMRC.

There may however be Inheritance Tax consequences in due course and you may wish to contact them for advice:                                       

Inheritance Tax: general enquiries

Thank you.

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