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Tax on money received for buying house
nigel75
Posts: 15 Forumite
in Cutting tax
Myself and my partner are about the receive a substantial amount of money for buying our first house. Is this likely to be taxed in any shape or form?
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Comments
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The money will not be taxed but be aware that if the person who gves you the money was to die within 7 years of giving you the money then the amount would need to be included in any inheritance tax calculations. Of course if you do not use the money straight away then any interest you receive on it will be taxed.I have had brain surgery - sorry if I am a little confused sometimes
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