IHT gift from surplus income letter
There is an inheritance tax exemption for monetary gifts made out of your surplus income. To demonstrate that a gift has been made out of surplus income you should send a letter with each gift you make.
Write a letter
Keep this IHT Gift from Surplus Income Letter with your will to help your executors when dealing with your estate (see Inheritance Tax Manual IHTM14242).
Related Topics
-
Can you claim input tax on overseas sales expenses?
Your business sells goods and services to overseas customers, and you do not charge VAT. Can you still claim input tax on any UK expenses that directly relate to these sales?
-
A guessing game - interest rates and employee loans
Buried in the 2024 Autumn Budget were small print changes to HMRC’s “official rate” of interest. The consequences of these have just taken effect. How might they affect you and your employees?
-
Do hybrid workers take fewer sick days?
A survey of 2,000 hybrid workers by International Workplace Group has revealed that more than a third are taking fewer sick days than they did when they were working full time in the office. What are the potential reasons for this?