Large gift of money

[saramara]

My husband is about to be given a cheque from his father for a large amount of money. When it has cleared he wants to transfer it to a high interest account before then using it in a few months time to purchase a property abroad. Do we have to notify somebody official as to where the funds have come from as it way above any amounts usually paid into my husband's bank account!

[themas]

No, but it is possible the bank may query it under money laundering regulations. If they do, simply explain what has happened - if they think it necessary they can confirm it with his father. However, it is also possible that they report it to some Government body (without telling you), which may or may not investigate.