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Gift Tax (Siblings)

I-Dont-Do-Debt · 2009-02-16 19:58:23

Sorry if this has been posted already (I did search). How much may one give as a Tax Free Gift to a sibling? I've read 3K per annum!? I wish I could cross post to the mortgage threads group but ... Is any Tax payable when a Property is sold? Property had a mortgage for 15 of 25 years then paid outright at year 15. Capital…

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Mahmood_Reza Posts: 179 Forumite

29 August 2010 at 10:50AM

Is the money a gift or a loan? There is no immediate tax liability on the 'gift' on you or your brother, to see how the benefits office will treat this gift I imagine would be dependant on the type of benefit he receives & the amounts involved - direct.gov.uk should provide some extra help

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Gift Tax (Siblings)

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