Thinking about gifting this festive season? In this episode of Retire Well, Matthew and Joe break down everything you need to know about tax-efficient gifting and inheritance tax planning. From annual allowances and small gift exemptions to gifts out of surplus income and trusts, we cover the rules, pitfalls, and practical tips to help you plan wisely.

What you’ll learn:

What counts as a gift for tax purposes

Annual gifting allowance and small gift rules

Special occasion allowances (weddings, etc.)

Gifts out of surplus income and why documentation matters

Potentially Exempt Transfers (PETs) and the 7-year rule

Chargeable Lifetime Transfers and trusts explained

Common mistakes and how to avoid them

Why professional advice is crucial for large gifts

Whether you’re planning to help family now or reduce your future inheritance tax bill, this episode is packed with insights to make your gifting strategy smarter.

Got a question or scenario you'd like us to cover? Email us at retirewell@wealthofadvice.co.uk or leave a comment below.

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Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.