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Where Taxpayers and Advisers Meet

IHT - Gift Allownces

Joined:Sun Apr 04, 2021 12:17 pm
IHT - Gift Allownces

Postby Another1 » Fri Aug 05, 2022 3:55 pm

For several years I have been making regular annual gifts to gchildren of £3k from capital ie annual allowance ,however some years I have missed but the following year I have gifted £6k…which I believe is permitted.

I have also been making irregular gifts as PETs,ie not on an annual basis.

To make full use of the allowances available could I consider the gifts made in first para to be gifts from income and with the PET gifts,..extract £3k from them for that amount to be regarded as gifts from capital?

My doubts arise from the fact that the regular gifts were nor regular in terms of continuous years!

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