Tim Cinders

Thanks for this information, admin 19. Could you clarify the second part: Are inheritance tax implications are only relevant concerning family and spouse? Between acquaintances is this of no concern? thanks again

Hello, I would like to transfer £24k to a friend (my ex partner) who helped my out financially over the years many times. It’s basically money that I owe her. I read online that Hmrc only allows 3k to be gifted tax free per year. This confused and surprised me. My question is- can I simply transfer this money to her without a. Having to declare it to Hmrc or b. Her having to declare it (aside from any interest it might earn) Thanks in advance

Hi- does anyone have any thoughts/ advice on this ? Thanks

Hello, I would like to transfer £24k to a friend (my ex partner) who helped my out financially over the years many times. It’s basically money that I owe her. I read online that Hmrc only allows 3k to be gifted tax free per year. This confused and surprised me. My question is- can I simply transfer this money to her without a. Having to declare it to Hmrc or b. Her having to declare it (aside from any interest it might earn) Thanks in advance.