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Where Taxpayers and Advisers Meet

cash gift

kanrent
Posts:119
Joined:Tue Dec 16, 2014 8:20 am
cash gift

Postby kanrent » Thu Dec 07, 2017 6:18 am

Hi im going to give my son enough money to buy a house is this covered by the 7 year rule or will it be liable for IHT or any other type of tax

Lee Young
Posts:2707
Joined:Wed Aug 06, 2008 3:26 pm
Contact:

Re: cash gift

Postby Lee Young » Thu Dec 07, 2017 4:14 pm

If you die within 7 years of the gift it will be added to your estate and the total will be subject to inheritance tax
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701


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