If a mum gifts £200k to her child & survives 7 yrs from then will the gift be free of tax or will there be an instant tax charge?

by , 1 year ago•Open Question
Related:Personal Finance•Tax•Inheritance Tax

Answers (2)

If she survives for seven years the gift will be free of inheritance tax.

by Feline123, 1 year ago

Hi FiLou .... and welcome to Money.co.uk

Feline is correct in her answer and I can quote from the HMRC's own page on the matter .....

"Potentially exempt transfers. If you survive for seven years after making a gift to someone, the gift is generally exempt from Inheritance Tax, no matter what the value"

by Snoopy48, 1 year ago

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