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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 21865
Experience:  International tax
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My wife and I are looking to give our daughter a significant

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Good afternoon,
JA: Hello. How can I help?
Customer: My wife and I are looking to give our daughter a significant sum of money in order for her and her partner to buy a house.I understand the gift will be free of tax after seven years providing the giver survives for that time.My question is,do we make the gift in joint names or a percentage individually.what is the most tax efficient way to make the gift?.William
JA: Have you talked to a tax professional about this?
Customer: no
JA: Anything else you want the Accountant to know before I connect you?
Customer: no.

Hello and thank you for allowing me to assist you.

You are correct there is no tax as long as the giver lives past 7 years of the giving.

You can split the gift or just one of you give that does not change the 7 year rule

If you split then one passes only half would be subject to any tax

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