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Tax on gift

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piking2k
piking2k Posts: 5 Forumite
in Cutting tax
Hello.

My wife's parents who are greek and live in Greece are selling some property there and wish to gift the proceeds of the sale to my wife. Since this will be a gift is it right that no UK tax will be payable by my wife (who does live and work in the UK)?

Thanks

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  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    There is no gift tax in the UK and in this case IHT and deprivation of assets are irrelevant, so no UK tax.

    There may be repercussions in Greece - no idea.
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