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Posted Sat, 12 Oct 2024 15:46:25 GMT by ackrge96
I have a number of NS&I index linked savings certificates. I wish to start making gifts out surplus income to my son. If I withdrew the amount of interest and index linking at maturity could this be classed as surplus income?
Posted Tue, 22 Oct 2024 08:38:47 GMT by HMRC Admin 19 Response
Hi,
You can see guidance here:
IHTM14250 - Lifetime transfers: conditions for normal out of income exemption: out of income
Alternatively, you can contact our Inheritance Tax team for advice.
Inheritance Tax: general enquiries
Thank you.
Posted Thu, 19 Dec 2024 17:23:36 GMT by Stevan berry
I have 3 pensions one works pension a state pension and a private pension that I take an annual drawdown amount after tax taken. Please clarify if my drawdown pension is either classed as an income or capital . Thank you.
Posted Tue, 07 Jan 2025 12:11:19 GMT by HMRC Admin 19 Response
Hi,
It is classed as income.
Thank you.
Posted Fri, 10 Jan 2025 11:03:48 GMT by Stevan berry
Hi I fully understand that ant one off purchases eg buy a car or D.I.Y purchases can be taken from my capital investments as opposed to from my earned income. Please advise can the same be said for a one off payment of £5000 as a wedding gift and the £3000 annual gift allowance. Or must these come out of my income. Thank you.
Posted Fri, 24 Jan 2025 09:48:45 GMT by HMRC Admin 25 Response
Hi 
Please refer to:
How Inheritance Tax works: thresholds, rules and allowances
Or contact the Inheritance Tax helpline here:
Inheritance Tax: general enquiries
Thank you. 
Posted Thu, 30 Jan 2025 10:08:07 GMT by roy king
WarningThis post is currently being moderated and will be visible when it has been approved by a HMRC moderator.
Posted Sun, 09 Feb 2025 16:56:49 GMT by ethestgistiza Ranson
WarningThis post is currently being moderated and will be visible when it has been approved by a HMRC moderator.

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