raym Mallock
Joined: 1/3/2023
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Gift tax
I am a UK tax payer & wish to make a cash gift of over £3000 to one of my children. I am aware that IHT will be applicable for 7 years after the gift. However, it has been suggested to me that I would also have a “Gift Tax” obligation of approximately 20% on gifting. Is this the case?