Regular Gifting Report
Regular Gifting Report
Give regularly, and keep the evidence that it counts.
Not everything you pay out for your family is a gift for inheritance tax purposes. Some payments fall outside the tax altogether.
Others are gifts, but are covered by an exemption. The most valuable of these covers regular gifts made out of surplus income. It has no upper limit at all, and it takes effect immediately rather than after seven years, which makes it the single most useful exemption available to most people. It is also the one most often lost, and usually not because the gifts were wrong but because nobody kept the evidence at the time.
This report looks at everything you give, whether that is school fees for grandchildren, help to a son or daughter, support for an elderly parent, or regular gifts from spare income. It identifies which payments sit outside inheritance tax and which rely on an exemption, and what each of those needs in order to stand up. We then set up the records while you are here to explain your own finances, rather than leaving your family to reconstruct them later.
The report includes your first twelve months of gifting records.
This report is for you if
- You already give regularly, or you intend to start.
- It goes on school fees, help to a grown-up child, or support for a parent.
- You want the gifts recorded so they stand up years later.
| Up to £20,000 | £1,500 |
| £20,000 to £50,000 | £2,250 |
| £50,000 to £100,000 | £3,000 |
| Above £100,000 | 3% |
| Up to £20,000 | £450 |
| £20,000 to £50,000 | £600 |
| £50,000 to £80,000 | £800 |
| Above £80,000 | 1% |
Giving £120,000 a year falls in the top band, so the fee is 3% of the whole £120,000, which is £3,600. The band below is a flat £3,000.
Related tax planning reports
Is this the right report for you?
Tell us what you are considering and we will say which report fits, what it costs, and whether you need one at all.