Pro-Taxman

Tax-free gifts

‘Normal gifts out of income’

The Oxford English Dictionary defines the word ‘normal’ to mean ‘conforming to a standard; usual, typical, or expected’. A minor, often misunderstood inheritance tax (IHT) gift exemption uses this definition of ‘normal’ whereby payments made (however large) are deemed to be inheritance tax-exempt transfers. To succeed, it needs to be shown that the payment represents …

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There are loads of ways to give to charities tax-free. What are your favourite charities?

Individuals who donate to charity can do so tax-free. There are various ways of making tax-relieved gifts to charity – the way in which the relief works depends on whether the donation is made via Gift Aid, as a deduction from wages or a pension via the Payroll Giving Scheme, in a will or whether …

There are loads of ways to give to charities tax-free. What are your favourite charities? Read More »