house deposit from expat - HELP

sourz7

Hi Board

Am after some advice.

My fiancee and I are getting married this year in August, my dad who ix an expat would like to give us £25k towards a deposit towards a new house.

What is the best way for him to gift this money to us with paying as little tax as possible.

I know that he could transfer £3k before April and make a one off £5k wedidng gift and then an extra £3k in financial year 2012-2013 bringing the total to £9k. But what should he do with the other £16k

He has live abroad for 25 years, is now retired and has a UK pension. He has a UK bank account too.

Any ideas or things to look into would be so useful.

with thanks

Sourz7

CLAPTON

unless he dies within 7 years he can give you any amount of money without any tax implications.

if he isn't a uk resident for tax purposes then inheritance tax may not be an issue so he can give you any amount he likes without UK tax (you may need to check out the situation if you are worried about IHT

no idea about tax is his country of residence

xylophone

http://www.newworldencyclopedia.org/entry/Gift_tax#Countries_.E2.80.9Cwithout.E2.80.9D_and_.E2.80.9Cwith.E2.80.9D__gift_tax_legislature might be of interest.