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IHT.....gifts and weddings.
jennifernil
Posts: 5,766 Forumite
in Cutting tax
We usually give away our "allowance" of £3000 each every year, this is divided between our 2 children.
Next tax year our daughter is getting married.
Does this mean we can then each give her a wedding gift of £5000, plus still each give away the usual £3000, some of which would also go to her?
Next tax year our daughter is getting married.
Does this mean we can then each give her a wedding gift of £5000, plus still each give away the usual £3000, some of which would also go to her?
0
Comments
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Yes you can both give £5000, and you can still give another £6000 (£3000 each) as you annual allowance. Anything above that requires you to survive 7 years to become exempt.0
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