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Can I give my wife £20,000 tax-free to put into a Cash ISA?
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That's going to depend on what the "otherwise" is. If instead of gifting it you put it in a pension, spend it on a world cruise, or donate it to charity, then you could well end up paying more IHT gifting it than "otherwise".Albermarle said:It is strange how many of the public seem to be aware of a relatively obscure rule about IHT and gifting £3K, and how the large majority of them totally misunderstand it. We regularly have posters like the OP ( and I know people personally) who think there is some kind of tax when giving gifts.
A friend of ours was convinced that by giving gifts you end up paying more IHT that you would have otherwise, which of course is not the case at all.
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