Here’s a reminder of the vital gifting numbers to gen up on before the end of the tax year:
While these are relatively small sums, you should use these up where possible without compromising your own financial security, to gradually reduce your overall estate. A settled pattern of gifts from surplus income can also be made. Conditions apply, and advice would be needed to ensure that the gifts are made and evidenced in the right way.
The Financial Conduct Authority (FCA) does not regulate tax advice and estate planning.
Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed.