Tax on large gifts

le_loup

GeckoLI wrote: »

I will not divulge further to just 'some guy' on MSE.com.

Strange how you were interested in getting help and advice from 'some guy' on MSE.com.
You chose your user name well although PRAT may be more appropriate.

McKneff

There's no pleasing some folk.

Love the phrase 'Wind your neck in'

Heres another one 'stop losing your blob'

Mother could in fact just walk away with the whole lot if she so wishes because nothing was written down.

xylophone

If there is "nothing written down", then this is simply a gift from her late father's partner to your partner.

There may be IHT considerations in due course for your partner's late father's partner's estate.
http://www.hmrc.gov.uk/inheritancetax/

As the person making the gift has no reason at the moment to foresee any care needs that will need to be met by the state , it seems to me that there is little reason to consider Deprivation of Assets- otherwise nobody would ever make a gift?

somethingcorporate

xylophone wrote: »

As the person making the gift has no reason at the moment to foresee any care needs that will need to be met by the state , it seems to me that there is little reason to consider Deprivation of Assets- otherwise nobody would ever make a gift?

I agree although we only know what the OP told us.

It would be up to a local authority to pursue anyway but giving away large sums of money approaching senior ages DoA is always something to keep in mind.

GeckoLI

I'm satisfied this question has been answered, suplimented by sufficient additional advice regarding my forum user name, and underpinned by plenty of 90's Sunday league football manager motivational phraseology.

Thank you to those who resisted the urge to launch a condescending offensive and provide me with the facts.

Bye.

CLAPTON

GeckoLI wrote: »

I'm satisfied this question has been answered, suplimented by sufficient additional advice regarding my forum user name, and underpinned by plenty of 90's Sunday league football manager motivational phraseology.

Thank you to those who resisted the urge to launch a condescending offensive and provide me with the facts.

Bye.

One has read more gracious thanks for unpaid selfless help.

agrinnall

Buddy36 wrote: »

Excellent advice Mojisola, remind me to go back in time & tell my dead father to 'write it down'. Was looking for some advice not judgement bearing in mind you don't know the full details of the situation this idea frankly sounds stupid in context.

Does nobody else think this must have been the OP registering a second ID just so that he could pretend he had a supporter? If not then Buddy is going to be one to watch out for in the future I suspect if the tone of his first post is anything to go by.

GeckoLI

agrinnall wrote: »

Does nobody else think this must have been the OP registering a second ID just so that he could pretend he had a supporter? If not then Buddy is going to be one to watch out for in the future I suspect if the tone of his first post is anything to go by.

Thats actualy my other half so I wouldnt worry too much. She's unlikely to harass anyone on the Internet.

somethingcorporate

I think you got what you paid for

chrismac1

One of the funniest threads on here for a while, thanks all!