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How much money can you receive as a gift per year

pedro1010
pedro1010 Posts: 2 Newbie
in I wanna buy it or do it
My mother wants to pay off my mortgage will i have to pay tax on money she gives me it as over £17000.00 Can anyone help

Comments

  • Ian_W
    Ian_W Posts: 3,778 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    You don't pay tax on gifts but should your mother die within 7yrs some or all of it may be counted as part of her estate in deciding whether [and possibly how much] IHT is applicable.
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