{"id":2170,"date":"2013-12-18T14:00:08","date_gmt":"2013-12-18T07:00:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/would-a-gifted-house-deposit-be-liable-for-tax\/"},"modified":"2016-01-21T11:31:13","modified_gmt":"2016-01-21T04:31:13","slug":"would-a-gifted-house-deposit-be-liable-for-tax","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/would-a-gifted-house-deposit-be-liable-for-tax\/","title":{"rendered":"Would a gifted house deposit be liable for tax?"},"content":{"rendered":"


\nMy sister says anything our parents give me could attract inheritance tax and capital gains taxQ My parents want to help me with a deposit on a flat. My sister thinks that if they give me any more than the \u00a33,000 which can be passed under an annual exemption, the cash would be liable for either inheritance tax (IHT) or capital gains tax (CGT). My mother insists that as long as she or my father outlive the gift by seven years, it would not be taxed. Who is right? EBA Your sister and mother are both right, although your sister is wrong about CGT. Where your deposit comes from has no impact on whether you will pay CGT on the property you buy \u2013 that is down to whether it is your main home for the whole time you own it. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Would a gifted house deposit be liable for tax?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

My sister says anything our parents give me could attract inheritance tax and capital gains...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-2170","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-z0","jetpack-related-posts":[{"id":138876,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/as-a-uk-property-seller-living-abroad-am-i-liable-for-sneaky-stealth-taxes-such-as-cgt\/","url_meta":{"origin":2170,"position":0},"title":"As a UK property seller living abroad am I liable for \u2018sneaky stealth taxes\u2019 such as CGT?","date":"August 21, 2023","format":false,"excerpt":"\r I lived abroad for 20 years but will return this tax year to sell my sole UK homeQ If you sell your main home which you have let while yourself renting another place or places to live are you exempt from [capital gains tax] CGT? All the pieces I\u2019ve\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":128772,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/does-moving-to-scotland-from-england-affect-capital-gains-tax-on-properties\/","url_meta":{"origin":2170,"position":1},"title":"Does moving to Scotland from England affect capital gains tax on properties?","date":"August 22, 2022","format":false,"excerpt":"\r I am struggling to find advice for how my relocation will affect tax on my rented property bought with gifted moneyQ I have a problem over what to do with a property in south-east England, which I bought outright for \u00a3190,000 at the end of 2014. 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