Can i give £50,000 to my son who lives in Lithuania?

My son, who lives and works in Lithuania, would like to buy a flat. Can I give him £50,000 for the deposit? Would that be simple to do?

Hi janed,
Please note, HMRC does not give advice on how to pass on your own property, money, and possessions.
There are no Income Tax implications on the giving or receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
You would not have any Inheritance Tax issues with this gift, as the individual is not UK resident.
Thank you.