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Posted Sat, 03 Dec 2022 13:50:15 GMT by rakeshmg
I am a UK tax resident. I want to send money to my parents (and/or brother) in India for family support. I want to know whether there is a limit on how much I can remit in an year. Is this considered under gifts and subject to £3000 annual allowance ? 
Posted Wed, 07 Dec 2022 10:40:29 GMT by
Hi rakeshmg,

You would need consider if its a gift. 

The £3000 applies in respect of inheritance tax, so that is is not added to the estate value.

You can pay more that this, but it would be added if you were to pass away within 7 years of the payment being made.

Thank you. 

 

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