confusing article

[xauxag]

i refer to this article here:
http://www.saga.co.uk/money/experts/wil ... spx?page=1

On one hand the author says:
There’s no income tax for your daughter to pay, as both the regular payments (£180pm) and the lump sum (£5000) are a gift, and not part of her (daughter's) earnings.

Then later she says:
You can give away £3,000 in any one year completely free of inheritance tax.

Do i understand from this that somebody can gift as much cash as they want but that anything over the £3k/yr limit will attract tax?

If so what kind of tax? Surely HMRC couldnt count the beneficiary's cash as capital gains or income?

So would it more likely, and as mentioned in the article, fall under IHT?

If so, how and when would a sizeable, say £50,000, cash gift be taxed?

TIA

[King_Maker]

Yes, anything above £3000 (not being a gift out of income) would usually be a PET (Potentially Exempt Transfer) for the donor's Estate for IHT purposes.