New Posts For Thread: Taxhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/27371321/taxMy dad is about to receive an inheritance of £80k and wants to give me £60k. What are the tax implications if any?I'm simply going to use the money to pay most of my mortgage off.Thanks in advance.Thanks Madas for your reply, much appreciated. I should also mention that my Dad is staying at her majestys pleasure. The £80k was left by his dad but he would only get it when his stepmum dies. She died on saturday, that's when he said he will givehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/27371321/tax?post_id=490986821#490986821Thanks Madas for your reply, much appreciated. I should also mention that my Dad is staying at her majestys pleasure. The £80k was left by his dad but he would only get it when his stepmum dies. She died on saturday, that's when he said he will giveThu, 31 Mar 2011 08:49:50 -0500Get your father to ask that a 'deed of variation' be inserted in the will, whereby he receives £20k and you £60k from the deceased's will. There are then no tax implications. Your father gifting you £60k is a 'hornets nest' - avoid. There are ihttps://community.betfair.com/tradefair__financials/go/thread/view/94198/27371321/tax?post_id=490976581#490976581Get your father to ask that a 'deed of variation' be inserted in the will, whereby he receives £20k and you £60k from the deceased's will. There are then no tax implications. Your father gifting you £60k is a 'hornets nest' - avoid. There are iThu, 31 Mar 2011 06:26:09 -0500My dad is about to receive an inheritance of £80k and wants to give me £60k. What are the tax implications if any?I'm simply going to use the money to pay most of my mortgage off.Thanks in advance.https://community.betfair.com/tradefair__financials/go/thread/view/94198/27371321/tax?post_id=490921377#490921377My dad is about to receive an inheritance of £80k and wants to give me £60k. What are the tax implications if any?I'm simply going to use the money to pay most of my mortgage off.Thanks in advance.Wed, 30 Mar 2011 16:40:05 -0500