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Sam T

Sam T

Joined: 3/9/2023

  • RE: Gift tax for cash gift from overseas

    Thu, 09 Mar 2023 08:59:52 GMT – Gift tax for cash gift from overseas
    Hi, My wife and are looking to buy a flat and her parents are sending the down payment as a gift from overseas. They are based in the United States. Do we owe any tax if they gift us the down payment? Also, is there an amount or threshold that would be taxed? I read somewhere that 250,000 GBP is the treshold. Thank you!