Matt Jones
Joined: 4/3/2025
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Income tax implications of gifts
Hello I know that the Annual allowance for gifts is £3000 and that your allowance for one year can be carried forward to the next (i.e. for this year, I could gift £6000 using both this and last year's allowances). I intend to use this to gift money to my children and place in Junior ISAs for them. What I am unclear on is whether I can also gift money to my spouse, over and above the annual allowance? I have seen some articles that suggest this is a separate exemption, but I cannot find confirmation on the HMRC website. Please could someone provide advice? Thanks!
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