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james bruce
james bruce, Solicitor-Advocate
Category: Law
Satisfied Customers: 959
Experience:  Owner at James Bruce Solicitors
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Can I give my 5 grand children £250 a month with a standing

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Can I give my 5 grand children £250 a month with a standing order from my threshold ? I am already giving my daughter £250 monthly, now my grand child is ready to go to university (she is 17 now, will be 18 next March) so can I give her £6000. For last year’s and this year’s threshold? Without any implications of inheritance tax?

You can give £3000 a year in total. If you have not used the previous years allowance then yes you can include that as well totalling £6000 and that would not effect IHT.

james bruce and 2 other Law Specialists are ready to help you
Customer: replied 7 days ago.
After giving £6000. From next April 2021 can I give her £250 a month on going?
If I don't give £3000 a year ,can I give £250 a month to 5/6 people without inheritance tax implications?
Customer: replied 7 days ago.
What, if you talk over the phone it will cost me £44

That is the cost Just answer charge I have no control over that, we can easily talk here.

Customer: replied 7 days ago.
If for one call cost me £44 ,it is not acceptable,

Not in my control sorry that is the fee JA charge I am independent. I will contact customer service for you and cancel the call.

Going on with your question,

You can give as many gifts of up to £250 to as many individuals as you want. Although not to anyone who has already received a gift of your whole £3,000 annual exemption. None of these gifts are subject to Inheritance Tax.

Customer: replied 7 days ago.
If cost £44 please don't phone, only if it's in trial price ONLY then it's OK
Customer: replied 7 days ago.
Can I setup one date to give 5/6 people £250 once a month on the same date, or better on different dates?
Customer: replied 7 days ago.
No phone call please it’s too expensive
Customer: replied 7 days ago.
What is the criteria for getting funding for university education, if parents are not too rich nor poor, just average?

Then phone call would be for a professional 121 with a solicitor.

Yes you can set up monthly payment like thar. That is allowed.

Customer: replied 7 days ago.
Don’t want to set monthly payments

You can set up monthly payments to your grandchildren of £250

Customer: replied 7 days ago.
No no no the call is too expensive for me, don't ring
Customer: replied 7 days ago.
What can be the implications, if I give one of my buy to let property to my daughter, and keep one for me, I am 74 year's old, what is your advic6?
Customer: replied 7 days ago.
If I give a flat to my daughter, does she has to pay tax on it, or leave and let it go as inheritance
Customer: replied 5 days ago.
I don't have a lots of money, how can I pass it to my children and have for my care ( if needed) without inheritance implecation
Customer: replied 5 days ago.
If I give one of my property to my daughter, does she has to pay tax? After giving this property can I keep the rent for my care, this is a buy to let property
Customer: replied 4 days ago.
The solicitor said I can give £250 every month (via standing order) is this to 4 grand children and one child
Without any implications to any tax? Kamlesh
Customer: replied 4 days ago.
I have paid for one week advice, this was very useful, don't have anymore questions, so please cancel my membership after a week, I don't remember when did I start ,let me know please, when got something I will join again, thanks
Customer: replied 3 days ago.
Can I give £250 each month to 4/6 people?
As I have not used last year's allowance, planning to give my grand child £6000.00 for last and this year's , after when can I start giving on monthly basis to help her for university, is there any other way can I help my grand children for university, please explain.