Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 21 Sep 2023 13:56:54 GMT by nmtofinou
Hi, I am a student in the UK with a pre-settled status (it should become a settled status in a couple of months). I am 24, almost 25 years old. My dad lives and is a permanent resident of Canada. I am French and so is my dad. He wants to wire me a little less than 600,000 pounds so that I can buy a property in France. The money would transit through my British account, as I would use my British account to make the purchase in France. In short, the money would do: Canada --> UK --> France. I think that this may qualify as a 'cash gift', and from what I have seen on this forum, it seems to be tax free. I have three questions: 1) Is this a cash gift and is it actually tax free? 2) Even though I might not have to pay an income tax, would I need to pay an inheritance tax at any point (for instance if my dad was to pass away within a certain time frame)? 3) Do I need to declare anything, or can I simply proceed with the transfer. Thank you for your help!
Posted Tue, 26 Sep 2023 10:08:32 GMT by HMRC Admin 17

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.


You must be signed in to post in this forum.