Gifts Out Of Surplus Income

Gifts Out Of Surplus Income

There is currently a very generous exemption from inheritance tax for regular gifts out of income. In order to qualify for the exemption it is important to set up regular transfers and to be able to prove that after those regular gifts you are left with sufficient income to support your normal lifestyle.

We can assist you in taking advantage of this generous exemption and keeping the necessary records for HMRC.

There are a number of insurance based products that take advantage of this relief and the regular payments could be used to fund school fees for children and grandchildren.

If you require any assistance please contact our Tax Partners, Steve Crompton or Lucy Williams, on the details below:

Steve Crompton
Partner – Head of Tax
direct dial: 01942 292541
mobile: 07790 840394
email: steve.crompton@jsllp.co.uk

Lucy Williams
Tax Partner
direct dial: 01942 292543
mobile: 07807 053494
email: lucy.williams@jsllp.co.uk


 

 

 

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