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Readers questions - Inheritance Tax
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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Weather for Bury St Edmunds
Thursday 09 February 2012
Today
Light snow
Temperature: -2 C to 1 C
Wind Speed: 6 mph
Wind direction: North
Tomorrow
Sunny spells
Temperature: -5 C to 0 C
Wind Speed: 12 mph
Wind direction: South east
