David2024 Chen
Joined: 9/23/2024
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RE: Cash gift from parents outside UK
Hi, My father-in-law, who lives abroad, transferred a loan to a company in the UK in 2019. In the same year, he gifted half of the loan to me and half to my wife. The company has now started repaying the loan into our UK bank account. Do we need to pay gift tax or inheritance tax? Thanks, David