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Readers questions - Inheritance Tax


Published on Monday 3 December 2007 12:25

Sheila, from Newmarket, asks: How much can I give to my children each year without being liable to Inheritance Tax?

You can give 3,000 each tax year from your capital.

If you have not used that allowance in the previous year, you can give 6,000 in this tax-year.

Thus a husband and wife who had not previously made any gifts from capital could give 12,000 this year and 6,000 next year.

You can also give any amount from your regular income, although for most people this would not be practical as they need their income to live on.


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