giving money to daughter for isa

hoppalong_2

I want to repay a loan to my daughter and intend giving her £3600 before April 4th (in this tax year), so that she can pay it into her ISA 6th April. I then want to give her the remaining £9400 in tax year 08/09. Can I do both of these things and do I need to show anything on my tax return.
This year I had a gain from shares in the company I work as they were taken over. The amounts were put through payroll for tax etc and came to £4118.61 during 07/08. Does this affect what I can give my daughter?

Look forward to some advice.

LittleVoice

You can give your daughter (or anyone else) whatever you want.
She then does with it what she wants.
It isn't anything to do with your (or her) tax return.

Murdina

Re the second payment (since you say the first is repayment of a loan) were you to die within 7 years of making it, and to have assets in excess of the nil rate band which you were not leaving to your spouse, or a charity, then there would be some IHT due then. You can give away £3k per annum (and use the previous year's unused allowance) before worrying about whether the gift might be liable to IHT if you died "too soon". So if you give away £9,400 in a year then £3,400 might end up with IHT on it - but only I emphasise if this is a real gift and not also repayment of a loan.
I think this may be what was at the back of your mind in prompting your query but if your assets overall are less than £300,000 then nothing at all to worry about. You also don't need to tell HMRC about annual gifts so it's only when you die it may need to be reported.