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cash gifts
new_to_the_game
Posts: 41 Forumite
Just a question, If I was to give my family £200k each from a lottery win would they have to pay tax on it or would it be tax free. ps before you ask NO I havent won
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Comments
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There is no tax on gifts in the UK.
There may be inheritance tax to pay from your estate depending on when you die.0 -
You are allowed to give away a total of £3,000 each year, without any tax implications after your death.
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