BB02
Joined: 3/30/2023
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RE: Gift tax for cash gift from overseas
Good evening, My partner and I are both UK tax paying citizens and we are looking to purchase a home in the UK. My parents live in Jersey, Channel Islands and would like to gift us £250,000 to help us with a deposit. The source of funds can be verified and tracked with the bank. Do I have to declare this, do I get taxed for it, are there any other implications?