Hi, I'm new to this but need advice. My parents have given me and my brother a substantial cash gift.A gift letter template is actually very simple to write. As I understand it, a parent can gift £3,000 per year to a child free of any IHT liability. A gift letter is a piece of legal, written correspondence explicitly stating that money received isn't expected to be repaid. Are you a first home buyer using a gifted deposit? Find out everything you need to know about gifted deposits with Halifax. From knowing who can gift them, to rules and important tax issues to be aware of. If part of your mortgage deposit is a gift, the lender may ask for a mortgage gift letter confirming the funds are not a loan. Downloadable template.