rknightuk’s avatarrknightuk’s Twitter Archive—№ 25,374

  1. …in reply to @holly
    @holly That’s my understanding of it. You only pay tax on it above a certain threshold though (I think).
    On twitter.com Twitter logo rknightuk’s avatar Mood 0
    1. …in reply to @rknightuk
      @holly My grandparents (not dead) house has been “gifted” to one of my parents so it can’t be taxed.
      Permalink On twitter.com Twitter logo rknightuk’s avatar Mood +3 🙂
      1. …in reply to @rknightuk
        @holly I’m not a lawyer, so please don’t take my word for it as fact. Things could have change since I last investigated.
        Permalink On twitter.com Twitter logo rknightuk’s avatar Mood +1 🙂
      2. …in reply to @rknightuk
        @holly Has to be 7 years between the gifting and the death of the gift giver to avoid tax. Otherwise it’s still taxable.
        Permalink On twitter.com Twitter logo rknightuk’s avatar Mood -1 🙁