2007-01-17 08:18:46 · 6 answers · asked by Richard G 1 in Business & Finance ➔ Taxes ➔ United Kingdom
You can give away as much as you like - they won't stop you.
But for inheritance tax purposes you will still be treated as owning the mony for the next seven years if you exceed the various limits, which are -
£3,000 in total for any one year. This allowance can be carried forward for one year only.
£250 each to any number of individuals
There are increased limits for a gift to a grandchild getting married.
Any amount which you can prove is surplus income. It must not reduce your standard of living nor the overall value of your estate.
2007-01-17 19:52:33 · answer #1 · answered by tringyokel 6 · 1⤊ 0⤋
it truly is incorrect! i'm specific they could desire to shop paying you yet at a discounted quantity or perhaps shop paying you what they could desire to have from the begining and additionally you place up a charge plan to pay lower back some each and each month until eventually all is cleared. they could desire to submit to in suggestions that there is a infant you're searching after .Its no longer your fault its the hard so referred to as government alot of my kinfolk pals have been in comparable situations
2016-12-14 03:07:00 · answer #2 · answered by apollon 3 · 0⤊ 0⤋
i believe in total no more than 3 grand, but that has to be split between the people you are giving it to
2007-01-17 08:24:37 · answer #3 · answered by sugarplum9903 4 · 0⤊ 0⤋
I can remember seeing something on TV not so long ago and I think it was £3,000
2007-01-17 08:24:33 · answer #4 · answered by toon_tigger 5 · 0⤊ 0⤋
goto hmrc.com hope this helps.
2007-01-17 08:22:58 · answer #5 · answered by upthelions 4 · 0⤊ 0⤋
Last I heard it was three grand. Can I have some, please?
2007-01-17 08:35:51 · answer #6 · answered by fidget 6 · 0⤊ 0⤋