My father was a government employee who was retired in Octiber this year. He wnats to give his settlement money to me and my sister, I understand that there is no tax for any gifts when its given to very close family members. I'm thinking of using this money for purchasing a house in the UK and the paperwork is quite strict for money transfer so I assume that I need to submot a legal document that confirms that this cash was given as a gift to us. Could you please help me to understand what process/steps I need to take to have a legal document confirming the same? Thanks.
CAclubindia
