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My mother has made a large amount on shares
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kitster_2
Posts: 133 Forumite
in Cutting tax
How much can she 'gift' each of her siblings and does this have to be declared on her tax form? Am i right in thinking it is £3000 per tax year and she doesn't have to mention it??
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She can give as much as she wants. There is no entry on the tax form.
If she gives more AND dies within 7 years, there may be an effect on Inheritance Tax.0 -
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