CASH GIFT, TAX IMPLICATIONS

chas2008 | 09:35 Thu 25th Feb 2010 | Business & Finance

2 Answers

my inlaws are considering paying of our mortgage (my wife has had to give up work due to ill health)
I am aware of the implications regarding inheritance tax etc, but are there any other personnel tax issues? the amount involved is about £40,000

Self employed and Claiming a new van on expenses

been paid by cheque from work when i have tried to cash it at

Answers

1 to 2 of 2

Best Answer

No best answer has yet been selected by chas2008. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.

dzug

Apart from IHT, there are no tax issues

There is a potential deliberate deprivation of assets issue should your inlaws need to go into a care home - or maybe that possibility was in your 'etc'?

chas2008

Question Author

thats what i thought,just needed a second opinion,

1 to 2 of 2

Do you know the answer?