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Father in India wants to gift £ 50,000 to son in UK (who has British passport) for buying property.

I am getting a letter from a Indian chartered accountant stating the source of the funds and tax paid in India.

Is this gift taxable ?

Any idea on how much money can be gifted in a financial year?

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  • money.stackexchange.com/a/127708/99652 is an answer to a question I previously asked should help shine some light on how much money can be gifted in a financial year in the UK at least.
    – Jsk
    Oct 29, 2020 at 12:16
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    @Jsk OP's did not made clear if their father is a tax resident of the UK. Assuming not (which is the more likely case), there should be no inheritance tax charged by HMRC in the UK and hence there should be no limit per se strictly from a UK perspective. I have no knowledge on how taxation on gift originating from India work though.
    – B.Liu
    Oct 29, 2020 at 20:24
  • Assuming the OP's father is not a tax resident of the UK, and the question is solely about taxes in the UK (i.e. taxes in India is sorted), it sounds like a duplicate of money.stackexchange.com/questions/53770/…
    – B.Liu
    Nov 2, 2020 at 9:45

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