Many people aren't aware that you can give £3000 a year per individual away with no Tax implications. Not only that you can give away most of your annual income to others tax free each year, as long as you can demonstrate you can live normally on the balance of the retained annual income, without making any economies/sacrifices.
Thanks John, I had no idea of that ruling and will review my offspring giving habits, every day a school day on here
With married couples their combined total annual gift allowance is £6000. Just search the web for full details of the scheme.
Last edited by JohnHarris; 26/06/2408:58 AM.
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