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University funding
tintoys
Posts: 336 Forumite
in Cutting tax
Our daughter starts uni in September and as we are over the threshold we have to pay her maintenance . As she is going 250 miles away we are going to give her £75 a week for the weeks she's at uni. This comes to approx £7200 over 3 years . Can we use the gift allowance to do this and if so how do we go about it ?
0
Comments
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https://www.gov.uk/inheritance-tax/gifts
"There’s no Inheritance Tax on gifts to help with other people’s living costs. These include payments to:
an ex-husband, ex-wife or former civil partner
a relative who’s dependent on them because of old age, illness or disability
a child (including adopted and step-child) under 18 years old or in full-time education"
So you don't need to worry about it.0
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