"What's the most you can give a friend or relative if you where to come into a large fortune?
I'm asking as I am planning on winning this Tuesdays Euro millions jackpot."
Used to be £10k without them having to pay tax, not sure if its still the same.
Ps those are my winnings on Tuesday   |
Reply privately, Reply in forum +quote
or View forums list | |
"You can give as much away as you want, but if you die within 7 years some if not all will be added to your assets for inheritance tax purposes. "
So without sounding morbid.
If I was seriously ill or dying and had myself put into a medically induced coma,or frozen until after the seven years then have the plug pulled my family would get it all??
Not sure if it is worth it for the £2.80 I won last week tho. |
Reply privately, Reply in forum +quote
or View forums list | |
"You can give as much away as you want, but if you die within 7 years some if not all will be added to your assets for inheritance tax purposes.
So without sounding morbid.
If I was seriously ill or dying and had myself put into a medically induced coma,or frozen until after the seven years then have the plug pulled my family would get it all??
Not sure if it is worth it for the £2.80 I won last week tho."
Do a Brewsters millions type of thing, stick it into a family trust with a bunch if caveats that to access the money they need to carry out an increasingly bizarre series of tasks |
Reply privately, Reply in forum +quote
or View forums list | |
"What's the most you can give a friend or relative if you where to come into a large fortune?
I'm asking as I am planning on winning this Tuesdays Euro millions jackpot."
I think you can gift 4K and there is know tax to pay but it can be done with some creative thinking.... |
Reply privately, Reply in forum +quote
or View forums list | |
"What's the most you can give a friend or relative if you where to come into a large fortune?
I'm asking as I am planning on winning this Tuesdays Euro millions jackpot."
Rather than give a specific amount away, perhaps offer to set up trust funds to pay mortgage, tuition fees or buy their fantasy holiday.... |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
