About 18 months ago, I made quite a large transfer to my daughter to help her to buy a house (290k). This amount is subject to the 7-year IHT rule.
Under normal circumstances, I believe I am allowed to pay £3,000 per year to a child without declaring it for tax, but I would like to ask, if I was to give her £3000 for Christmas, would that be added onto the amount I have already given her, and go into the fund that is currently 18 months into its 7-year IHT period, or would it be considered a one-off Christmas present, free of tax?
Thanks for your expertise.
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