maximum cash gift to freind

cr241260 | 11:17 Mon 21st Jan 2008 | Law

4 Answers

What is the maximum cash gift I can give to a freind.

Or can I give a very valuable obect like old master painting or faberge egg

Short hold tenancy

trades union or something

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Loosehead

There is no limit to gifts, however if you where to die within 7 years of giving it, it would be included in your estate for potential IHT.

Thunderchild

I was gifted a whole house....

treborrobert

a true friend would want nothing ! and if you have loads of money .. take him out for a nice meal just the 2 of you.. and continue enjoy each others company.. thats true friends.. why would you want to give him or her a painting or faberge egg anyway.. are you tryin to say you have to buy his friendship ? ... then thats not a true friend !

daddies-sauc

if you are trying to hide assets for one reason or another, gifting a friend is not the best way. You can actually recive a prison sentence for delibrate removel of assets. if you just want to give a friend a big gift and are worried do they have to pay tax, then no give what you like. But if yuor hiding money for a reason there are better ways

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