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Old 02-08-2017, 18:12   #17
arcimedes
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Re: Suspicious Activity Report

Quote:
Originally Posted by Taf View Post
A neighbour's son was contacted by HMRC after paying in around £50 cash per week over several months. It was pocket money from his grandparents. But guess what, there are limits to how much you can "gift" to your grandkids! Something to do with Inheritance Tax I think.
We looked this up a few months ago on gov.uk and from what I remember you can give them as much as you like if its coming from income and not affecting your lifestyle.
If its coming from your capital then I think the limit per grandchild is £1000.
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