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Tax on Gifts
eaglesdare
Posts: 1 Newbie
This is a bit of a complicated situation. My wife's sister's marriage broke up over two years ago. The house is mortgage free and the husband has agreed on a settlement sum. She is disabled but comes from a large family who have all chipped in towards the settlement amount. The gifts range from £2000 to £5000 each. Majority are from relations in Ireland. At present my wife has opened an account into which the money is being held. On settlement this will be paid to her husband. As the money is being paid from my wife's account will there be any tax comeback on it?
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