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Karen's parents want to gift her £10,000 for her wedding. Unfortunately they didn't know about having to give her the money before the wedding.
Neither of Karen's parents have gifted Karen or any of her siblings any cash within the 20/21 and current 21/22 tax years.
Would Karen's parents be able to gift her up to £6,000 each? (without "risking" the 7-year tax risk of up to 40%?)
Is there anything anyone should do apart from making a bank transfer that would act as proof?
Thanks for your 'expert' legal advice in advance!
Neither of Karen's parents have gifted Karen or any of her siblings any cash within the 20/21 and current 21/22 tax years.
Would Karen's parents be able to gift her up to £6,000 each? (without "risking" the 7-year tax risk of up to 40%?)
Is there anything anyone should do apart from making a bank transfer that would act as proof?
Thanks for your 'expert' legal advice in advance!