Hi, I'm new to this but need advice. My parents have given me and my brother a substantial cash gift.As I understand it, a parent can gift ÂŁ3000 per year to a child free of any IHT liability. Here are the top things you need to know when receiving mortgage down payment gift funds. Bonus: download a free gift letter template. Download the following gift letter template. Then, complete, e-sign, and send it to the lender. Here's a sample gift letter you can use to prove that the money is truly meant as an outright gift, with no expectation of repayment. Do you ever get so fed up with all the toys lying around? This is the inside story of my drastic decision to take my kids' toys away.