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Inheritance Tax
Comments
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Only if you wish to use the gift out of excess income to avoid IHT, if your not then ISA is fine to support your lifestyle.
I just see a lot of people hearing about gifts from excess income, and then gifting from pension income and living of ISA, not realising that it might have not saved them any IHT.0 -
Well then you'd fall back on the 7 year rule. Whatever you do, keeping good records is vital to show HMRC the pattern of your gifting as well as the sources.
And so we beat on, boats against the current, borne back ceaselessly into the past.0
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