Financial Gifts explained
What are financial gifts and how can you make them?
At Bestinvest our clients often want to know how to make financial gifts, but many are unsure about HMRC’s treatment of gifts and whether there is any tax to pay on them. This guide aims to answer all your questions about making financial gifts, as well as explaining how a financial planner can help you give to those who are unable to look after gifts for themselves.
What's in the guide:
- Do you pay tax on cash gifts?
- What is your annual allowance for financial gifts?
- What is a potentially exempt transfer?
- How can the seven year rule affect your Inheritance Tax liability?