| http://www.w3.org/ns/prov#value | - I am a basic rate tax payer, but currently in-between jobs (hopefully).by gabie, 11 Feb 2013report post???add thanks???1 commentHi Gabie, You do not need to pay income tax as the money was a gift, the main concern would be Inheritance Tax, which would only be payable if your parents died within 7 years and if their estate was worth in excess of ??650,000 (??325,000 allowance per parent).There are s
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