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Posted Sat, 09 Mar 2024 09:54:17 GMT by james Hill
If  I gift my wife £3000 will it reduce my tax liability on my income ( ie less £3000 income )
Posted Tue, 12 Mar 2024 14:31:21 GMT by HMRC Admin 8 Response
Hi,
No.  While there is no tax liability arising from the transfer of assets between spouses and civil partners, you will have to pay tax on your income before you can gift any of it to your wife.
Thank you.

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