Antal Patonai
Joined: 9/9/2023
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RE: Gift tax for cash gift from overseas
Dear HMRC team, Me and my wife are Hungarian citizens holding settled status and tax payers only in the UK. My mother in law would like to gift us around Ł8600 to help our planned house buying. She can transfer the money in HUF to my wife's Wise bank account then we can exchange it to GBP and send it towards our UK bank accounts. Do we need to pay tax after this amount due to that the GBP transfer will land on our UK accounts from the Wise account not straight from Hungary? Many thanks -
Receiving money from family (from EU)
Hi everybody My mother in law is planning to grant us around Ł8500 after selling her inherited house in Hungary. Do we need to pay any tax if we receive it as a "help from a family member"? Many thanks