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Inheritance Tax and replacement double glazing.
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johnnyseven268
Posts: 4 Newbie

in Cutting tax
I am making monthly gifts to my children out of "Normal Expenditure".
I
have just paid a deposit of £902 and will in the next financial year
pay £3,609 on completion of replacing single glazed windows and a
backdoor with double glazed windows and door.
My question is - is this classed as Capital spending or Normal expenditure spending.
If the latter, I will have to reduce my monthly gifts.0
Comments
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johnnyseven268 said:If the latter, I will have to reduce my monthly gifts.0
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eskbanker said:johnnyseven268 said:If the latter, I will have to reduce my monthly gifts.Hello eskbanker, I now have the answer to my question and it is Normal Expenditure spending according to HMRC.Regular gifting out of income is IHT free as long as you can show HMRC that it is out of income.1
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johnnyseven268 said:eskbanker said:johnnyseven268 said:If the latter, I will have to reduce my monthly gifts.Hello eskbanker, I now have the answer to my question and it is Normal Expenditure spending according to HMRC.Regular gifting out of income is IHT free as long as you can show HMRC that it is out of income.1
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