Transferring within family

Dear Team, I am planning to support my uncle family for their living in the UK. I pay income tax for my UK employment. My uncle and aunt are retired. I read that annual allowance for gift is £3000. I hope to gift them £1500 per month for their living. Would I or them have to pay tax for this? Many thanks, Ange

Hi Angelholiday,
There are no Income Tax implications for giving or receiving cash gifts.
For Inheritance Tax purposes, the maximum you can give to one person in a tax year if £3000.00.
Any more than that, the gift is considered part of your estate for the next 7 years and should be recorded for Inheritance Tax purposes.
Please have a look here for more information:
Inheritance Tax
Thank you.