Gifts to adult children

Jeremy535897

Yes you should. Each of you maintains their own IHT 403.

diystarter7

Hi

Does it really matter if the IHT form 403 is completed? I ask as most people will gift from their current accounts and many have joint accounts like us. All the money that comes in goes out has an electronic trail. I do see the point for the OP as its a monthly thing but when we do gifts, more recently from our joint accounts we write in something like , "gift to DiyJnr from dad/mum/..."  you are limited re a number of letters but that it. Larger gifts have been written down on a letter.

It is a very helpful thread as well as educational.

Thanks

Jeremy535897

Since the IHT 403 will need to be completed if the exemption is to be claimed, you may as well do it in advance.