Tax on a gift for mortgage deposit

A question about : Tax on a gift for mortgage deposit

Hi,

I am looking at purchasing a house with the help of a 'gift' from my parents. The amount is Ј12,000 but wanted to know if there is any tax implications of receiving a gift of this amount from my parents.

Thanks

Best answers:

• There is not.
• well
  if both parents gave 3,000 for this year and carried over 3,000 from last year then 12,000 could be given completely free of IHT concerns about dying within 7 years