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Taxes On Gifts

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Josephine Said:

Do I have to pay TAXES on monetary gifts?

We Answered:

If someone gave you a legitimate gift, YOU would not owe any tax on it. No "loophole" is needed, that's the law. The donor would have a substantial Gift Tax liability since Gift Tax is paid by the donor, not the recipient.

Donna Said:

Do I have to pay any UK taxes (such as capital gains) on gifts?

We Answered:

No UK tax is payable on gifts. See the HMRC website for better information

Theodore Said:

Taxes on gifts? What to do?

We Answered:

You have to pay import taxes in the Uk on anything with a value of £18 or more. For gifts this is increased to £36. Your Ad Here

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