u/13ClaytonJ

Advice with receiving 35k into my bank?

Hi everybody, looking for some advice please.

Around 4/5 years ago ish, I bank transferred my mother £20k for an 'unofficial' 1/4 stake in a house that she rents out.

(A generous offer that was likely worth £25k+ at the time.)

It saved her from having to take out a loan at the time and gave me a bit of an investment opportunity. She has since paid me a little cut of the rent monthly.

She's now offered to buy me out of my stake in the house for £35k. My only concern is if this will flag anything when transferred into my bank and I could potentially be subject to tax or anything? Nothing was every questionned at the time when I sent the 20k over, but any advice would be appreciated.

Many thanks.

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u/13ClaytonJ — 3 days ago