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Posted Tue, 14 Nov 2023 14:53:43 GMT by
Hello, my sister and brother in law are gonna gift me money for deposit for buying a house in uk. Do i need to declare and pay tax on that money, and do i need any documents from them about the money and the transfer, anything to be signed by notary, or its just the one that my uk mortgage bank need from them to be signed
Posted Thu, 16 Nov 2023 16:00:21 GMT by HMRC Admin 25 Response
Hi Vavandryan,
There are no tax implications arising from the gift of money.
Any interest or dividends arising from that gift are taxable and should be declared.
We cannot advise on the documentation a bank would require.
You would  need to contact the bank for that.
Thank you.

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