I know I ought to ask a professional but here I am instead. The internet has confused me a bit but I'm sure someone here will know the answer.
I understand the £3k exempt amount, and that it is a total not per child, and is for each parent.
However, if I wanted, could I in theory give my kids say £20k each (i.e. maybe buy them a car, or paying a lump off their mortgage) with no tax liability on any of us except if I die within 7 years? I don't mean by taking a chance. I would want it to be all above board.
Last edited by: smokie on Fri 7 May 21 at 11:50
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