Financial gifting
Giving or leaving a financial gift in a tax-efficient way
As well as being extremely gratifying, gifting money to loved ones during your lifetime can help reduce any potential Inheritance Tax (IHT) bill when you pass away. And if you gift money via a trust, it can become an even more effective financial planning tool.
or call: 0800 915 0000
Tax efficient gifting
Each of us has an annual ‘gift allowance’, which allows you to give away £3,000 worth of assets or cash each year without incurring any IHT – even if you were to die soon afterwards. You can also make smaller gifts of up to £250 outside of this allowance, tax-free, provided you haven’t given a gift to the same person as part of your £3,000 annual allowance.
If you don’t use your annual £3,000 allowance, you can carry it forward – but only for one tax year. You can also gift any amount to charity without incurring a tax bill. And, if you leave at least 10% of your net estate to charity when you die, it will reduce your IHT rate from 40% to 36%.
Any gifts over £3,000 are called a Potentially Exempt Transfer, because no IHT is due on it provided you live for at least seven years. If you were to die within seven years of giving the gift, it becomes a Chargeable Lifetime Transfer, and IHT will be due.
To speak to one of our advisers about tax efficient gifting today call 0800 915 0000
Articles related to
Financial Gifting Insights
19 November 2024
What the October Budget means for inheritance tax planning
Discover strategies to protect your farm, business, or land from inheritance…
2 November 2024
6 things to do before the end of every financial tax year
Maximise savings before the end of tax year with strategies like ISAs, gifting,…
12 September 2024
Could you be giving back? The benefits of donating to charity through your business
Why donating to charity through your company is a fantastic way to support…
29 July 2024
How do I protect my children’s inheritance from nursing home costs?
We explore whether you can fund the cost of care, whilst at the same time…
26 July 2024
Gifting money to grandchildren
With high house prices, university fees, and a cost-of-living crisis, it's no…
22 July 2024
How to raise the subject of inheritance with your parents
Bringing up the subject of inheritance with your parents can be difficult. Get…
16 June 2024
How Inheritance Tax works for single individuals and childless couples
Inheritance tax is often associated with married couples and families, but what…
13 June 2024
Inheritance tax payments reach unprecedented heights
Inheritance tax (IHT) payments reached unprecedented levels earlier this year,…
5 February 2024
End of year tax savings tips for high earners
As the end of the current tax year looms, it's an important time for high…
23 January 2024
How much money can I inherit without paying tax?
Depending on the value of the estate, you may need inheritance tax. Find out…
23 January 2024
How much money can I leave without an Inheritance Tax bill?
Without careful planning, leaving your family with an inheritance may come with…
4 January 2024
How to plan a successful exit from your family-owned business
Conor McCann from Amber River NI explains some of the key considerations family…
8 December 2023
Can I give my house to my children to avoid inheritance tax?
Gifting property to children or family members during your lifetime is…
23 October 2023
Who’s the best person to advise on Inheritance Tax?
If navigating Inheritance Tax feels like a bewildering maze, you're not alone.…
15 June 2023
5 reasons why you need an Estate Plan
If you don't have an estate plan, the aftermath of your passing could come with…
5 May 2023
What should I do with an inheritance received in my 60s?
Receiving an inheritance in your 60s could affect the value of your estate, and…
20 January 2023
I’ve inherited a lump sum, what should I do with it?
Inheriting a lump sum can feel quite overwhelming. While we can’t tell you how…
9 June 2022
Gifting in your lifetime to reduce inheritance tax
As well as being there to see your family's enjoyment, gifting is also a great…
31 May 2022
9 ways to reduce the inheritance tax bill for your family
There are many ways to reduce inheritance tax for your family. A good financial…
27 May 2022
Setting up trusts and gifting in your lifetime
Make sure more of your wealth is on passed to your loved ones; setting up…
26 May 2022
5 steps to prepare financially before your death
No one wants to think about their death, but preparing financially could spare…
23 April 2022
The four key stages of financial business planning
Kerry McCaughan looks at four critical stages of family financial business…
11 December 2021
11 ways to reduce tax in retirement
While you should never base investment decisions solely on tax efficiency,…
8 December 2021
Tax-efficient ways to leave a legacy
Inheritance tax can cause chaos for families during what is already a difficult…
26 November 2021
What to do with an unexpected windfall
Whatever the reason for the windfall, we believe it’s essential to explore your…
22 November 2021
How to make the most of your pension
Retirement is a time to focus more on leisurely pursuits - so how can you make…
16 November 2021
How to manage your investment risk
Find out how to manage your investment risk by investing in different kinds of…
8 November 2021
A pension’s a good start – but what else makes a sound retirement plan?
Retirement means different things to different people, but we all still want it…
1 November 2021
Estate Planning mistakes to avoid
Planning your estate to leave more than just memories to your loved ones is a…
BR Wombourne
We’ve been using Mark and his team for many years and are so impressed with their caring professional service. We fully entrust our risk management and retirement planning with them. It is a comfort to know that our investments are in good hands.
We’ve been using Mark and his team for many years and are so impressed with their caring professional service. We fully entrust our risk management and retirement planning with them. It is a comfort to know that our investments are in good hands. BR Wombourne
IL Kidderminster
Mark and his financial planning team have been advising me for many years. I’m delighted with the service they provide and I can highly recommend them.
Mark and his financial planning team have been advising me for many years. I’m delighted with the service they provide and I can highly recommend them. IL Kidderminster
CC Evesham
Mark has been our Financial adviser for 16 years, and during this time, Mark and his team have acted in a thoroughly professional yet friendly manner. We trust him implicitly and have seen our investments prosper. We would recommend Unity, wholeheartedly, to anyone needing financial assistance and advice.
Mark has been our Financial adviser for 16 years, and during this time, Mark and his team have acted in a thoroughly professional yet friendly manner. We trust him implicitly and have seen our investments prosper. We would recommend Unity, wholeheartedly, to anyone needing financial assistance and advice.CC Evesham
RB Redditch
I needed some help with retirement planning and found Mark and his team to be reliable and friendly to deal with. I received sound and practical advice which has given me peace of mind with my retirement saving.
I needed some help with retirement planning and found Mark and his team to be reliable and friendly to deal with. I received sound and practical advice which has given me peace of mind with my retirement saving.RB Redditch
Need Financial gifting advice?
Speak to an Financial gifting expert. Call us on:
Request a callback from one of our expert advisers
Find a financial adviser
Where and how we meet depends on whatever’s most convenient for you, but we have a number of locations around the UK if you’d prefer to come to us for bespoke financial planning.
Other services we offer
We provide a complete range of financial services with specialists in every category so that we can match you with the most suited adviser for your needs
Money
Savings and investment planning that helps you set and achieve life goals
Read More
Peace of mind
Protection for you and those who rely on you
Read More
Pensions
Financial freedom is the goal, but what's the best way of achieving it?
Read More
Retirement
When work stops, life continues. With careful planning, we can make sure you enjoy a fulfilling retirement.
Read More
Legacy
Opening up a world of opportunity for your kids and theirs
Read More
Registration Number 03776035
Registered in England and Wales
Amber River Group Limited is not authorised to give financial advice. The financial planning businesses who are part of the Amber River Group are separately authorised businesses and therefore able to give advice.
You’ll find details of the regulated status of our firms, including FCA numbers and links to the Financial Services Register on each of the location pages in the ‘Find an adviser’ section.
The Financial Conduct Authority does not regulate National Savings or some forms of mortgage, tax planning, taxation and trust advice, offshore investments or school fees planning.
The information contained within this site is subject to the UK regulatory regime and therefore targeted primarily at UK-based consumers.
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Find full details of the FOS at www.financial-ombudsman.org.uk
Please read our Privacy Statement before completing any enquiry form or emailing us.