Family Gifts

Gifting money to family is a good way to provide your children with a head start in life, while at the same time reducing the value of your estate for inheritance tax purposes.

Wealth Advice for Gifting

We can provide you with advice on how to ensure the gifts you make are made in the most tax-efficient method. For example, in every tax year, a gift of money can be made up to the annual tax exemption for £3,000 per individual. Unused exemption from the previous tax year can also be utilised. You can also make gifts from your income which are also exempt from any IHT liability, as long as they are made regularly and do not affect your standard of living. Other gifts are also exempt, such as gifts to a charity, national museums and the National Trust.

Is Gifting money taxable?

The information on this website is based on our interpretation of the current law and HMRC practice. Taxation legislation and HMRC practice may be subject to unforeseen changes in the future.

Committed to your objectives

Our financial consultants will work with you to create a gift plan which puts you in control of when and who your wealth is passed to.

Your gift plan can cover a variety of scenarios. Including maximising the use of IHT exemptions and also paying for the cost of education for your children or grandchildren.

At Cooper Associates Wealth Management we have helped thousands of people like you, providing the right advice and implementing a careful estate planning strategy.

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Our expert advice is free, simple and tailored to you. Why not book an appointment?

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Coopers Associates Wealth Management has managed my finances for over a decade, providing me with excellent advice and support. I have felt confident and assured that my best interests are being managed.

Andy Hurry, Director of Cricket – Somerset County Cricket Club

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