Gifts Of Money

[pips1]

How much can a person give away in money in a financial year please, anyone know?

[sandyRoe]

As much as they have.

[KJN]

http://www.hmrc.gov.uk/inheritancetax/pass-money-property/exempt-gifts.htm

[I_Hate_Infinity]

All of it. The law only covers the recipient of monies as taxable income. I think the maximum one can receive as an untaxed gift is £5,500pa (ball park, check the figures yourself on ^above website^

And if your struggling to find persons for charitable donations, I could use a raise in my pathetic life savings :) Call me!

[Gizmonster]

@ I_Hate_Infinity:

You're a f*****

...... well you did say, "call me" didn't you ????

Soz, I just couldn't resist :P

[Gizmonster]

Anyway, back on topic, here's a useful link:

http://www.money.co.uk/article/1004329-how-do-i-gift-money-without-being-taxed.htm

[VHG]

Very badly worded question.

[DangerUXD]

no limit, there is also no tax on gifts per se, though IHT can apply in some circumstances.

[I_Hate_Infinity]

@Gizmonster - What The Funicular? Think you wildly misinterpreted my words. Your insult can't hide behind a wall of stars*

Check your tone young one!

[pips1]

Thanks very much for the genuine replies, it was my mum who was asking me as she had heard it was £3000. I was in a hurry when I wrote the question VHG but most understood what I meant. Thanks all.

[Gizmonster]

.... yea check the link I posted earler - point no 2 states:

"You are allowed to give away a total of £3,000 each year, without any tax implications after your death"

... and @ I_Hate_Infinity .... it's a while since I've been called a young one ...... and there'll be yet another year to add on tomorrow ..... I think a few beers are in order - it's only polite to celebrate your own birthday :)