Giving money to children is common, but tax treatment depends on timing and circumstances.
Understanding the rules helps clarify when tax may apply.
Gifting rules in the UK
In general:
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gifts may be tax-free if certain conditions are met
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inheritance tax rules often apply
The seven-year rule
Some gifts fall outside inheritance tax if the giver survives for seven years.
Allowances and exemptions
There are also annual allowances and other exemptions that may apply.
A final note
This article explains how gifting rules work, not how to structure gifts.
If gifting raises questions about timing or impact, some people find it useful to think things through before advice or action. Evoa exists for that purpose — before advice and before action.