Younger sister gifted money by family member...

toni232 · 10 June 2019 at 9:46PM

Hi there,

My younger sister has recently been gifted money (by way of a cheque).

As it is a large amount of money she's been gifted (£50,000), does she:

1. Need to have the gift of money registered anywhere? (HMRC perhaps?)
2. I bought a Monetary Deed of Gift form for her to use. Is it ok 'though if this deed is signed and witnessed a few weeks after the cheque has cleared to her bank?

Any advice would be greatly appreciated!

Toni

:beer:

ViolaLass · 10 June 2019 at 9:56PM

Why does she need the form?

toni232 · 10 June 2019 at 10:12PM

Hi Viola,

I just thought that a deed was needed in case government entities like HMRC ever came knocking and wanted to confirm where the money came from.

Thanks,
Toni