Gift received

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Asst Manager Finance & Accounts
15 Points Posted on 21 July 2020
gift received in cash from sister in law's husband taxable or non taxable..
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On 21 July 2020 at 21:07 Report
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This discussion clarifies whether a cash gift received from a sister-in-law's husband is taxable in the UK. According to Section 56, gifts from 'relatives' are exempt from tax, and a sister-in-law's husband is considered a relative under this definition. Therefore, the cash gift is non-taxable.

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1102 Points Posted on 21 July 2020
How much amount of Gift, you receive
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On 21 July 2020 at 21:47
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Asst Manager Finance & Accounts
15 Points Posted on 21 July 2020
It's more than 50k
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On 21 July 2020 at 22:01
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Chartered Accountant
154 Points Posted on 22 July 2020

Hi Jimcy,

This will not be taxable as per section 56, as the amount is received from a relative.

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On 22 July 2020 at 09:22
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Chartered Accountant
12739 Points Posted on 22 July 2020

as the Sister in law 's husband is covered in the definition of Relatives so there is no tax on gift received from relative 

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On 22 July 2020 at 09:27
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Tax and Business Consultant
11616 Points Posted on 24 July 2020
Sister in law 's husband means simply brother?

Gift from brother is exempt as gift from relative.
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On 24 July 2020 at 19:10

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