Gift Allowance 2024 Uk. See gov.uk for more information on what exactly constitutes a gift. How much can i give away?
If you do plan to make large lifetime gifts, the beneficiaries could take out life insurance against the potential inheritance tax bill. For many people, gifting money while they’re living is a means of avoiding some inheritance tax, which is levied at 40% on the value of an estate over £325,000.