Up to what amount can a Mother in Law give to her Daughter in Law. ?
Will any income tax be applicable?
what is the limit?
Replies (4)
Quick Summary
This discussion clarifies the tax rules surrounding gifts from a mother-in-law to her daughter-in-law in the UK. Generally, gifts between relatives are not subject to income tax and there's no specific monetary limit. However, for substantial amounts, a gift deed is recommended. It's also important to be aware of potential 'clubbing of income' rules, though specific exceptions may apply.