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Cost of Gifting

The question comes from a quick read article which covers a couple of the issues to consider when making gifts and how they could be made more tax efficiently. The article flags that what appears simple and straightforward i.e. a gift of cash, can have far reaching consequences, dependent on an individuals situation.

I would also add to the mix that consideration should be given to whether making an outright gift in the circumstances set out is the best way forward, or whether it would be better for the daughter to obtain a beneficial interest in the property. Care Fees are also likely to be topical in any discussion.

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