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Gift
SallyJackson22
Posts: 1 Newbie
in Cutting tax
If you give your child a financial gift, is it better to set it up as a loan agreement with a nominal repayment to avoid them paying any tax, if anything happens to you within 7 years? Thanks
0
Comments
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Is your estate likely to be in excess of £325000, potentially double if you are married and even more if you own a property?0
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You'll need to first decide whether it's a loan or a gift!0
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Please explain how you think a loan rather than a gift might save tax.0
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I missed the ‘them’ in the opening post. There is no gift tax in the U.K. - the recipient has no tax to pay.0
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