This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.


Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

£3000 gift help

Posts: 1
Joined: Thu Nov 28, 2019 10:07 am

£3000 gift help

Postby Robert9 » Thu Nov 28, 2019 10:35 am

Can anyone with any expert knowledge help please?

My 94yr old father It appears, will have a inheritence tax threshold of £950k.
Thats £325k for himself, the same for my late mother who left everything to him, and £150k each for his house.

His entire estate is valued at £860k, which includes the value of his house (£330K) and investments including ISA Funds and ISA Stocks and Shares valued at £280k. The remainder being in other investments.

He wants to gift his 3 sons £50k each, my question is, is he able to do this from his ISA investments without any tax implications, such as the £3k gift rule bearing in mind he is below the current inheritence tax threshold?


Posts: 4506
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: £3000 gift help

Postby pawncob » Thu Nov 28, 2019 1:28 pm

He can't gift the ISA, he'll have to sell the shares and gift cash.
The £3k annual exemption doesn't matter. The gift is a PET(Potentially Exempt Transfer) so no IHT implications.
With a pinch of salt take what I say, but don't exceed your RDA

Posts: 9
Joined: Mon Dec 10, 2018 12:49 pm

Re: £3000 gift help

Postby Harry9 » Thu Nov 28, 2019 2:02 pm

Thank you, that was what I meant he would sell the ISA shares, it was just worded badly.

Thanks for the reply !

Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”