Gifting money without being taxed (Belated Wedding Gift)

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#1

Gifting money without being taxed (Belated Wedding Gift)

22nd September 2019, 17:00:PM

I have been trying to find any information relating to gifting my son Ł5000, which I understand is the current limit for a wedding gift.

He has been married for 4 years but wondered if it's a belated gift he or I would be liable to taxation?

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EXC

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Joined: Jul 2007

Posts: 17667
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#2

22nd September 2019, 17:31:PM

It's too late for it to be a wedding gift but if you live for more than 7 years after you make a monetary gift to your children there is no inheritance tax liability. Although if he invests the money he could potentially be liable for capital gains tax.

See here https://www.moneyadviceservice.org.u...nheritance-tax
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Gifting money without being taxed (Belated Wedding Gift)

Gifting money without being taxed (Belated Wedding Gift)

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