Giving a large amount of money to family members

rising_from_the_ashes

persa wrote: »

No. As a general point of UK law, there is no such thing as tax on gifts for the donor, with exceptions arising where the donor and donee make an election to save the donee paying tax and the donee then goes walkabout. Assuming the OP gifts something of value to a family member and doesn't make any such election, there is no risk of getting stung personally by HMRC.

With cash though, the above falls out of the picture completely and the rule is quite simply there is no such thing as tax on gifts for the donor.

That's not what I said .... apologies if it didn't come out right - if the money is gifted to someone who invests it and makes a profit the recipient may have to pay tax on this. Something for the gifter to maybe mention to them.