Gift Tax 2024 Limit Uk. You can only make such a gift once a year, and there's a limit on how much you can give: For many people, gifting money while they’re living is a means of avoiding some inheritance tax, which is levied at 40% on the value of an estate over £325,000.
The nrb is the part of an individual’s estate which for inheritance tax (“ iht ”) purposes, is taxed at 0%. The tables below are ‘ready reckoners’, showing estimates of the effects of illustrative tax changes on tax receipts from 2025 to 2026, 2026 to 2027, and.