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Majority unaware of gifting rules and inheritance tax

Majority unaware of gifting rules and inheritance tax

Only one in four people making financial gifts are aware of the risks of inheritance tax (IHT), highlighting the risk of unexpected tax bills for gifters for non-compliance.

  • Shared by Accountancy Daily
  • May 20, 2019
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New research from the National Centre for Social Research (NatCen) and the IFS shows that there is a staggering lack of awareness of the gifting rules, liability for inheritance tax and the risk of making financial gifts without considering tax rules, which can kick in for any gifts over £3,000 in value in a given tax year.

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