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
-
Tax trap when renting to relatives
Your cousin is in financial difficulties and has nowhere to live. One of the properties you let is vacant and you’ve offered it to him as a temporary home. You’ll only charge him a minimal rent. How might this negatively affect your tax position?
-
Temporary workers - your pension obligations
If you’re employing temporary workers for the summer season don’t forget that they have the same rights to join your workplace pension as permanent employees. What do you need to do?
-
Late payment interest to be cut
A cut to the Bank of England base rate means there will be another reduction in HMRC's penalty interest rates. What are the new charges and when will they take effect?
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.