my uncle is looking to give me a property which is his primary uk residence?

Question by kris d: my uncle is looking to give me a property which is his primary uk residence?
but he lives in India. The property he is looking to give me is in the UK, would he be liable for any tax on the transaction, given that the property is his main uk residence?

Best answer:

Answer by Politically Correct
Under UK rules, the value of the property will be a taxable gift to you. If he lives seven years, it will become exempt. If he continues to live there as his main uk residence, he will need to pay you rent or the gift will be invalid.

I don’t know whether there would be tax implications for him in India.

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