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Hello, The following reply present earlier in this thread seems to contradict several other replies claiming gifts are tax free here: "You can only give gifts tax-free up to a £3,000 HMRC annual allowance according to multiple sources. HMRC allows you to roll that over ONCE in your lift, so in one year you could up that to £6,000 by using 2 years' worth of allowances. Except for your spouse, this means that over and above £3k or £6k, tax does apply. It's got nothing to do with interest or dividends. It's gift tax." Assume I give £100k to these people and live more than 7 years afterwards (hence IHT out of scope): - Spouse - Child - Friend Could anyone (ideally HMRC if they're here too) please explicitly confirm if the text above means any of these people will have to pay tax on the £97k exceeding that £3k tax-free limit? If however my hypothetic £100k gift is completely tax free for them could anyone please share a scenario illustrating a gift taxed above that £3k tax-free limit? Many thanks in advance!