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Tax on sale of ISA shares
JoLion
Posts: 1 Newbie
I want to help my son buy a house. I have a S&S ISA. If I raise say 30k from that, and pass the cash to him obviously it’s a Gift as far as IHT 7 year rule goes, but would he be liable for any income tax on that cash? Thanks.
0
Comments
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No, there's no income tax when receiving gifts.1
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There is no tax on gifts in the UK. You can give as much as you like to who you like.2
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