Gifting Rules 2024 Uk. In the uk spring budget on 6 march 2024, the previous government announced proposals to change the scope of inheritance tax (iht) from a. Experienced professional advice should be sought before either relying upon taper relief or making gifts out of excess income.

Melissa hughes, head of wills and probate at gw legal, explains the rules on gifts and exemptions for inheritance tax. Any unused annual exemption can be carried forward by one tax year.