49: Gifting & Inheritance Tax Explained: How to Give Tax-Efficiently This Christmas

Thinking about gifting this festive season? In this episode of Retire Well, Matthew and Joe break down everything you need to know about tax-efficient gifting and inheritance tax planning. From annual allowances and small gift exemptions to gifts out of surplus income and trusts, we cover the rules, pitfalls, and practical tips to help you plan wisely.What you’ll learn:What counts as a gift for tax purposesAnnual gifting allowance and small gift rulesSpecial occasion allowances (weddings, etc.)Gifts out of surplus income and why documentation mattersPotentially Exempt Transfers (PETs) and the 7-year ruleChargeable Lifetime Transfers and trusts explainedCommon mistakes and how to avoid themWhy professional advice is crucial for large giftsWhether you’re planning to help family now or reduce your future inheritance tax bill, this episode is packed with insights to make your gifting strategy smarter.Got a question or scenario you'd like us to cover? Email us at [email protected] or leave a comment below.--TALK TO USCall us: 0191 384 1008Email us: [email protected]: www.wealthofadvice.co.uk--SUBSCRIBE TO OUR NEWSLETTERhttps://www.wealthofadvice.co.uk/newsletter-sign-up---Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.