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Posted Wed, 26 Jan 2022 23:52:50 GMT by Kameron Al
I would like to give someone who helped me out when I was struggling a large cash gift anonymously with a bankers draft. Will they need to pay tax on the gift ? It will be a million pounds.
Posted Thu, 27 Jan 2022 15:52:18 GMT by HMRC Admin 2
Hi,

There are no Income Tax implications on gifting money but you may wish to speak to our Inheritance Tax team regarding this.

How Inheritance Tax works: thresholds, rules and allowances

Inheritance Tax: general enquiries

Thank you.

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