andyasj Posted March 9, 2007 Share Posted March 9, 2007 Can anyone tell me if there are any allowances when a gift is from daughter (UK resident) to father (France resident). I am talking quite a large sum of 50000-70000€. I believe there is an allowance parent to daughter but does it work the other way?Cheers Link to comment Share on other sites More sharing options...
Teamedup Posted March 9, 2007 Share Posted March 9, 2007 As parents are allowed to give their children, 50000€ and every six years without any taxes, I am pretty sure that I have heard that this also is allowed between children and parents.Either check with the fisc or a notaire. Link to comment Share on other sites More sharing options...
Gastines Posted March 9, 2007 Share Posted March 9, 2007 Quick question. Would she like to adopt me?Regards. Link to comment Share on other sites More sharing options...
andyasj Posted March 9, 2007 Author Share Posted March 9, 2007 Here is the precise situation:I and my partner (unmarried) have one grown up daughter. I intend to retire to France this year but my partner will remain UK resident. In a year or so she will be in a position to give me about £50000 which is the amicable arrangement we have come to to 'equalise' our positions.a) If I am resident in France and receive a gift of say 70000€ I believe I will have to pay a lot of tax. Is this true?b) If true, would it be possible for her to give the money to our daughter (tax free as long as she does not die within 7 years?), and then for our daughter to give the money to me (50000€ allowance?).Or am I just making it all too complcated and risking double taxation?Cheers Link to comment Share on other sites More sharing options...
lacote0_0 Posted March 17, 2007 Share Posted March 17, 2007 If you receive a gift in France you will normally pay tax at 60%, subject to various allowances. I don't think a donation from daughter to parent has any allowance.Why don't you simply enter into a contract or deed of settlement with your partner, before you leave the UK, so that the (later) payment is an obligation, not a gift? Link to comment Share on other sites More sharing options...
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