49: Gifting & Inheritance Tax Explained: How to Give Tax-Efficiently This Christmas
Retire Well with Wealth of AdviceShow Notes
Thinking about gifting this festive season? In this episode of Retire Well, Matthew and Joe break down everything you need to know about tax-efficient gifting and inheritance tax planning. From annual allowances and small gift exemptions to gifts out of surplus income and trusts, we cover the rules, pitfalls, and practical tips to help you plan wisely.
What you’ll learn:
What counts as a gift for tax purposes Annual gifting allowance and small gift rules Special occasion allowances (weddings, etc.) Gifts out of surplus income and why documentation matters Potentially Exempt Transfers (PETs) and the 7-year rule Chargeable Lifetime Transfers and trusts explained Common mistakes and how to avoid them Why professional advice is crucial for large gifts
Whether you’re planning to help family now or reduce your future inheritance tax bill, this episode is packed with insights to make your gifting strategy smarter.
Got a question or scenario you'd like us to cover? Email us at [email protected] or leave a comment below.
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Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.
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