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Help from family for a house deposit, is it taxable ?
oli_ro
Posts: 142 Forumite
in Cutting tax
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.
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.
0
Comments
-
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?0 -
Thanks for the reply. Well, it its 100% legit, I guess it doesn't matter if they ask or not.0
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