Article first published in the Financial Times.
Stuart Price, associate at Thomson Snell & Pasmore, says he is sure your granddaughter will be delighted with the gift. However, HM Revenue & Customs looks very carefully at lifetime gifts because sometimes IHT can become payable on them. The rules allow grandparents to make a gift of up to £2,500 to a grandchild on the occasion of their wedding, which will always escape the IHT net.
You can also make gifts of capital totalling up to...
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