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.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.
Book an appointment
Our expert advice is no-obligation, simple and tailored to you. Why not book an appointment?
Cooper Associates Wealth Management have always put my best interests first by giving advice which is second to none. I would recommend their services to anyone as their knowledge, service and support is exceptional.
Jos Buttler – England Cricketer and Cooper Associates Group brand ambassador
Our Locations
Taunton (Head Office)
T. 01823 273 88040 St. James Buildings,
St. James Street,
Taunton, Somerset TA1 1JR
Exeter
T. 01392 345 544Regus Business Centre,
3rd Floor, The Senate,
Southernhay Gardens,
Exeter EX1 1UG
Plymouth
T. 01752 746 8484th Floor, Salt Quay House,
6 North East Quay,
Sutton Harbour,
Plymouth PL4 0HP