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Where Taxpayers and Advisers Meet

Gifting a lump sum of cash to my sister

LMcHugh
Posts:2
Joined:Fri Jan 29, 2016 8:02 pm
Gifting a lump sum of cash to my sister

Postby LMcHugh » Sat Jun 04, 2016 6:17 pm

Would there be any tax liabilities for myself or my sister if I was to gift her a lump sum of cash (approx 30k)? Thanks in advance!

LozaACCS
Posts:1504
Joined:Wed Aug 06, 2008 3:55 pm

Re: Gifting a lump sum of cash to my sister

Postby LozaACCS » Tue Jun 07, 2016 8:02 pm

Possibly inheritance tax if you died within 7 years, subject to the available nil rate band, otherwise no


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