Gifting

dan411

All 

I am making sure that this is possible. If in a year, 1 gift of £25k was given to a family member and this is it, are you able to reduce this to £22k with the persons £3000 allowance? 

I hope this makes sense 

Thank you 

pjs493

What is the purpose of the gift? There are exceptions to the £3000 rule, for example a gift to a child on the occasion of their wedding. Just wondering if you might be able to utilise one of the more obscure rules. 

Frogletina

dan411 said:

All 

I am making sure that this is possible. If in a year, 1 gift of £25k was given to a family member and this is it, are you able to reduce this to £22k with the persons £3000 allowance? 

I hope this makes sense 

Thank you 

If no gifts were made in the previous year, then you can reduce it by a further £3000, and make it £19,000

dan411

Thank you. 

And would I put this in column B as exceptions or
reliefs? Or would I just take the £3k into account now and put the gift as £22k instead? 

Unfortunately the year before was used and it was just a gift to a grandchild but not for a wedding so I believe I can only get £3k off this? 

dan411

pjs493 said:

What is the purpose of the gift? There are exceptions to the £3000 rule, for example a gift to a child on the occasion of their wedding. Just wondering if you might be able to utilise one of the more obscure rules. 

If you can think of any then this would be helpful too