Gifted deposits

Hi All,

I am purchasing a new property and selling my current one. Part of the deposit for the new property is coming from the father-in-law as a gift.

The lender is happy with this but I have heard that there are limits to the amount of money one person can give to another?

The father-in-law may put the money in trust which I believe basically means that if myself and the Mrs were ever to go separate ways then she'd get that money back. I don't know if a trust arrangement has a bearing on how much can be gifted?

I'm guessing the risk here is with Inheritance Tax?

Thanks,

Gary.