A listener wrote to the Not The Martin Lewis Podcast, where Mr Lewis gets experts on key topics such as inheritance tax to talk through how they work
Martin Lewis has provided a crucial tip to grandparents wanting to give their grandchildren an early inheritance gift of £3,000 tax-free. A listener wrote into the Not The Martin Lewis Podcast inquiring about the specifics of the tax law.
Kari Mellon, a chartered tax advisor from Opes Tax and guest on the show, responded by saying: "Yes, £6,000 in the first year and then £3,000 for each year afterwards." Rebecca Benneyworth from Rebecca Benneyworth and Co also chimed in, stating: "Providing you make regular gifts from your surplus income which do not affect your standard of living, those gifts are immediately free from inheritance tax.", reports Birmingham Live.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Landlords could owe thousands as Martin Lewis puts tenants on high alertThe finance expert dropped the bombshell on his Not the Martin Lewis podcast
Read more »
Martin Lewis issues update to parents over HMRC child benefit payment issueThe money-saving expert said 'huge numbers of people' have not received their monthly HMRC child benefit payments.
Read more »
Martin Lewis issues warning to holidaymakers over rule when spending money abroad on ITV Money Show...Martin Lewis issues warning holidaymakers over rule when spending money abroad
Read more »
Martin Lewis issues urgent warning to anyone with money in a savings accountThe consumer champion is urging anyone with money in a savings or cash ISA account to check it now as they could be missing out on higher interest rates
Read more »
Martin Lewis shares essential holiday tips to save money and avoid scamsThe founder of moneysavingexpert.com has urged Brits to 'act now' in order to avoid being scammed
Read more »
Martin Lewis urges people with money in a savings account to check it nowThe consumer champion warns savings with a return rate of less than 4 per cent are earning ‘diddly squat’.
Read more »