End of tax year – one day left!
By Kirsten Hastings, 4 Apr 18
Investors and savers have just one day left to take advantage of the current tax exemptions and benefits before new rules come into force in the UK on 6 April.
Annual inheritance tax gift allowance
Up to £3,000 can be gifted each year without inheritance tax (IHT) implications.
This annual exemption can be carried forward for one year and means a gift of £6,000 can be made. Couples may be able to gift up to £12,000 in this way.
Any number of smaller gifts up to the value of £250 can be made to other individuals.
Note: A small gift of up to £250 cannot be given to the same individual to whom the annual exemption of £3,000 was gifted.
Tags: IHT
