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Cash gift

L1972 L1972
Posted Mon, 25 Mar 2024 23:32:46 GMT by L1972 L1972
Hi, Can I give my mum a cash gift of £50k, and if so, what are the tax implications for both of us? Thanks
HMRC Admin 25
Posted Wed, 27 Mar 2024 17:06:50 GMT by HMRC Admin 25
Hi L1972 L1972,
There are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to Inheritance Tax, regarding any Inheritance Tax implications:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. 

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