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Posted Mon, 05 Dec 2022 15:51:39 GMT by theraezer
Hi there, My friend is wanting to give my partner and I a loan to purchase our first flat at £525,000 and pay this back at £1,500 per month + inflation. Is there any tax implications we would need to look at for this kind of loan? Thanks so much! Rich
Posted Thu, 08 Dec 2022 09:23:20 GMT by HMRC Admin 32
Hi,

There are no Income Tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax.  

Further guidance can be found here:

Tax on savings interest

Tax on dividends

Thank you.

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