Gifts vs Loans

Welcome to Berry & Lamberts Solicitors’ podcast series, ‘Planning for your Future’In this episode, experienced Private Client Solicitor, Joanna Fildes, explains the difference between loans and gifts with regards to Inheritance Tax liabilities.   Many of us are fortunate to have family that can provide financial support either by way of loan or gift. Both methods of support have very different implications in respect of inheritance tax, which warrant careful consideration of a variety of issues including the intentions behind the gift or loan.  Our 'Planning for your Future' series discusses, in everyday language, how planning can help you navigate your way through the ups and downs of life and how getting your affairs in place now can assist your loved ones’ future responsibilities.  Berry & Lamberts Solicitors - We’re right by you… through the good times, challenging times and sad times. Find out more about us, our services and what our clients say, at www.berryandlamberts.co.uk. Please note that the information provided in this podcast series does not constitute legal advice and serves as a general guide only. The law may have changed since this podcast was recorded. Listeners should seek tailored legal advice from a solicitor who will take your individual and personal circumstances in consideration. Thanks for listening! Follow us on Facebook, Instagram, X and LinkedIn.