Sear M
Joined: 8/24/2024
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Tax on money received from parent
Hi, I’m an Indian national currently studying in the UK on a student visa. My parents (Indian nationals) want to transfer money (£400,000 approx) to me to buy a house in the UK through a UK based bank account. Will this amount be taxed for me or them? Are there any more taxes that I will be liable to pay after receiving the money/buying the property?