Factsheet: Making financial gifts
We are often asked how easy it is to make financial gifts and how to do so. Many people also want to make gifts to family members but are concerned about causing an unexpected tax bill. This factsheet shows you how HM Revenue & Customs views gifts, what gifts you can make without paying any tax, and how a financial planner can help you make gifts.
In this factsheet:
- The tax rules around giving financial gifts
- Your allowances for making gifts to others
- Options for giving gifts to those unable to look after the money themselves.