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  "path": "/money/martin-lewis-gifting-inheritance-tax",
  "publishedAt": "2026-04-30T11:53:44.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Martin Lewis urges holidaymakers to buy travel insurance 'ASAB' to avoid costly mistakes",
    "Martin Lewis issues major ISA inheritance tax warning: 'It is not a protection!'",
    "Octopus Energy customers furious amid upcoming price rises as Martin Lewis responds",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nMartin Lewis has warned that giving money to family members could have inheritance tax implications if rules are not followed.\n\nThe financial expert raised concerns on his BBC podcast while discussing gifting rules with tax specialists, highlighting how regular financial support to children or grandchildren could be counted towards an estate if not properly managed.\n\n###\n\n\n\n\nExperts said keeping detailed records of gifts is essential to avoid complications when inheritance tax is assessed.\n\nThe main annual allowance allows individuals to give away £3,000 each tax year without it being added to their estate, and this can be given to one person or split between multiple recipients.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nThere is also a seven‑year rule, meaning gifts made more than seven years before death are typically exempt from inheritance tax.\n\nLucie Spencer, partner at Evelyn Partners, said: “So there’s the large gift allowance, which is £3,000 per individual per tax year.”\n\nShe explained that unused allowance from the previous tax year can be carried forward, saying: “If you haven’t given that £3,000 in the last tax year, you can effectively give £6,000 today.”\n\nThis operates separately from the seven‑year exemption and other reliefs.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nMr Lewis clarified that the £3,000 allowance does not need to be given to a single individual.\n\nA separate small‑gift allowance enables people to give £250 to multiple recipients, but the two allowances cannot be combined for the same person.\n\nMs Spencer said: “What I can’t do is give a person £1 more,” meaning the £250 limit cannot be topped up.\n\nWedding gifts are subject to different exemptions.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Martin Lewis urges holidaymakers to buy travel insurance 'ASAB' to avoid costly mistakes\n  * Martin Lewis issues major ISA inheritance tax warning: 'It is not a protection!'\n  * Octopus Energy customers furious amid upcoming price rises as Martin Lewis responds\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nHarriet Brown said parents can give up to £5,000 to someone getting married, allowing four parents to collectively gift £20,000.\n\nGrandparents can give £2,500, while other individuals can give £1,000.\n\nExperts also outlined when people should begin tracking gifts.\n\nMr Lewis asked when individuals should start documenting financial support.\n\n###\n\n\n\n\n###\n\n\n\n\nMs Brown suggested this could begin in a person’s early 40s, while Ms Spencer said: “I would say in your 50s,” adding that this often coincides with receiving an inheritance and having greater wealth.\n\nExperts recommend keeping a written or digital record of all gifts alongside a will.\n\nMs Spencer said: “When someone passes away and you come to complete their inheritance tax form, there’s actually a whole list where you have to detail all of the gifts which you’ve made leading up to your death.”\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Martin Lewis warns gifting money to family could trigger inheritance tax hit"
}