Gifts to siblings

ceeforcat

Have to agree with clapton here - while S/O would be reasonable proof of the regularity of the gift a lot more weight is put behind gifts on certain occasions. For example, if it is the habit of the donor to give each niece and nephew £1000 every Christmas and this does not affect his or her standard of living, that represents greater proof than simply to deduce 'I am going to make sure these gifts are regular by making sure I do not forget to make them' which is one of the points of a standing order.

CLAPTON

out of curiosity

1. does anyone keep a paper trail of their gifts and is so for what purpose and in what form

2. I've dealt with 3 estates (above the IHT allowance) and have always completely ignored 'gifts'. I feel in each case I was completely entitled to do so but there was absolutely no formal paper trails and in any event I didn't look for any.

Has anyone been in a similar situation and found a paper trail?

Has any had the HMRC query such situations (if so maybe mention the size of the estate)

3. Has anyone advised their parents / grandparents that they ought to keep a paper trail ?
Is so what was the reply?


I think we need a sense of proportion; maybe if the potential estate is worth millions then things are different but for estates where the major wealth comes for the value of the property I really don't see this as an issue.

grizzly1911

In a similar way what about deprivation of assets in relation to care fees?

Especially transfer of property.