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House gifted by my parents

Gino
Posted Sun, 09 Jun 2024 23:44:56 GMT by Gino
Hello, my parents want to gift me a house in Italy (house value about 180k euros). They will still be living in the house, but they won't pay anything to me of course. Do I need to declare that to HMRC or to pay something? Thanks!
HMRC Admin 20
Posted Thu, 13 Jun 2024 11:21:08 GMT by HMRC Admin 20
Hi,
Not until the house starts to generate income by way of rental or selling.
Thank you.

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