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01 May 2010

I want to give my son £50k to help with a deposit on his first property. How can I minimise the possible penalties?

My son is buying his first property. I want to give him £50k to increase his deposit to allow him to access the best deals currenty available to purchasers with a higher equity to loan ratio. What are the tax implications and other pitfalls to be aware of in this situation.

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