Tax on gifts to kids

[drdel]

I'm not a royalist and neither do I object to their existence but all this royal baby and the happy couple stuff is a bit much for the grumpy old sods like myself.

HMRC's Tax Inspectors are a keen eyed bunch so they must have spotted that the Queen has apparently given the young couple a large house on the Sandringham estate which has had about £1.5m of upgrade.

I was wondering if this 'gift' was taxed because if t'was you or me 'giving' this value of present to our grandkids you can bet there'd be hefty bill to pay !

 

[Canary_Yellow]

I'm not a royalist and neither do I object to their existence but all this royal baby and the happy couple stuff is a bit much for the grumpy old sods like myself.

HMRC's Tax Inspectors are a keen eyed bunch so they must have spotted that the Queen has apparently given the young couple a large house on the Sandringham estate which has had about £1.5m of upgrade.

I was wondering if this 'gift' was taxed because if t'was you or me 'giving' this value of present to our grandkids you can bet there'd be hefty bill to pay !

No. Only IHT should the person making the gift die within 7 years of the gift.