Money gift from boyfriend - no civil partnership.
edited 30 November -1 at 1:00AM in Cutting Tax
4 replies 1.1K views
My sister signed over half her property to her boyfriend without any sale agreement as such. However they had agreed informally that he would "pay" for his share with a cash gift of 75,500. He wants to transfer that money into her account now. Is there any sort of declaration that has to be made? His estate will be under the 325,000 Inheritance tax limit - so can he just hand over the lump sum without being liable for any tax now? They are not married nor are they registered as civil partners. Both are in their mid fifties. They have a joint mortgage and have lived together for several years in Scotland. Thanks for any advice in advance!