Help from family for a house deposit, is it taxable ?

oli_ro

Hi,

my parents(living in another EU country) want to help us by gifting half of the money required for a house deposit. (>20k Euro).

Is this taxable ? What is the legal way of transferring the money to my account, can they just wire them ? Will the bank report this or ask questions ?

Thanks a lot.

CLAPTON

No gift tax in the UK but I have no idea about other EU countries.
A bank may or may not ask questions because of money laundering issues .. but why would have be a problem?

oli_ro

Thanks for the reply. Well, it its 100% legit, I guess it doesn't matter if they ask or not.