Henry45
Joined: 3/23/2023
-
RE: Gift tax for cash gift from overseas
Hello, My mother (french citizen and french tax payer) is gifting me a french life insurance policy (£500k) . The full amount is to be withdrawn from the policy as soon as I become the registered owner and sent to my UK bank account in order for me to purchase a house (main residence) in the UK. I am a UK resident and tax payer. Would this operation attract any UK tax and if so, how much? Many thanks