Simplify Inheritance Replace Gift Limits with Lifetime Gift Allowance

Published / Last Updated on 15/08/2019

The government should as a package:

Replace the annual gift exemption and the exemption for gifts in consideration of marriage or civil partnership with an overall personal gifts allowance.

They should also consider the level of this allowance and reconsider the level of the small gifts exemption and reform the exemption for normal expenditure out of income or replace it with a higher personal gift allowance.

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