Talk Morgan Forums Community The Malvern Arms Trad prices ..versus owners dreams..

These current gift arrangements may soon be closed down if Labour gets into power, whilst the Tories will expand the opportunities. The gift from net after tax earnings/income (not savings) is not widely known or advertised by the IR, but basically if you earn/have an income of say £100k net after tax annually and have been saving say £50k a year for some time eg 5 years, theoretically under the scheme you should be able to demonstrate why you can give away the £50k or part there of, rather than save it each year.

I'm sure there is plenty of fine print but currently the basic principle holds true, I would talk it thru with a tax expert first to make sure your circumstances satisfy the criteria of the gift..

The difference between the scheme above and the individual annual £3000 gift is that gift can come from any source ie net earnings/income, savings etc.