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Inheritance tax
SRoberts
Posts: 6 Forumite
in Cutting tax
Following the sale of my house - I am thinking of gifting some money to my daughter - 150K in total. What implications will this have on her ie taxes etc? She is in the lower tax bracket, but does gain an extra income from 3 BTL properties that she rents out. Do I need to instruct a solicitor to carry out this task?
0
Comments
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there is no gift tax in the UK, you can give away whatever you like to whoever you like
there may be a potential IH tax liability is you die within 7 years and your total estate (including any potentially taxable gifts within the last 7 years) is greater than the then IHT threshold... of course if you dont give it way the tax will still be due.0
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