Can I give a cash gift to my sister with no tax implications for myself?

Posted by lobas PM | on Fri, 04/05/2012 - 12:50 2650 9 comments | report

I have been trying to find information regarding cash gifts(none charity)

I'm a sole trader and want to help my sister with money as she can't find a job.

Does the gift come with tax benefits? So If I gave my sister £1,000 would this be taken from my tax bill ?

Comments

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BKD | Fri, 04/05/2012 - 12:57

pauld | Fri, 04/05/2012 - 13:14

Steve Knowles | Fri, 04/05/2012 - 15:06

Chris Wise | Fri, 04/05/2012 - 16:47

Marion Hayes | Fri, 04/05/2012 - 21:03

lobas | Sun, 06/05/2012 - 18:43

Old Greying Accountant | Sun, 06/05/2012 - 21:30

pauld | Mon, 07/05/2012 - 13:03

ShirleyM | Mon, 07/05/2012 - 13:34