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Andrew
Andrew, Solicitor
Category: Law
Satisfied Customers: 80
Experience:  LLB (Hons)
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I registered and paid but 'm still waiting for my answer....

Customer Question

I registered and paid but 'm still waiting for my answer....
JA: Where are you? It matters because laws vary by location.
Customer: UK.... I recently asked about gifting money to my cousin....
JA: What steps have you taken so far?
Customer: a lawyer got in touch but then stopped answering.... he proposed calling but I wanted a simple yes or no, nothing heard since....
JA: Anything else you want the Lawyer to know before I connect you?
Customer: same as before....
Submitted: 7 months ago.
Category: Law
Expert:  Andrew replied 7 months ago.

Hi,

Could you please explain your question again?

Kind Regards

Customer: replied 7 months ago.
OK. I intend to gift about £80K to my cousin following the selling of my late Mother's house which I've inherited. I believe this would be a 'potentialy exempt transfer' and subject to the 7 years rule on inheritance tax. Yes or no? Thank you.
Customer: replied 7 months ago.
No thanks Andrew, I do not wish to incur the additional charge of a call, as it's a simple yes or no.... there are no oddities so make all the assumptions you need to answer yes it no... cheers...
Expert:  Andrew replied 7 months ago.

Hi, the answer is Yes.

You are free to gift the sum free of tax, subject to the 7 year rule.

I hope this assists and if so, I would be grateful if you could rate my answer with 4-5 stars.

Kind Regards

AV

Customer: replied 7 months ago.
Perfect.....many thanks. I'll rate you...
Expert:  Andrew replied 7 months ago.

Cheers! All the best.

Andrew

Expert:  Andrew replied 7 months ago.

Please don't forget to rate my answer, thanks! Andrew