Is there a specific time frame that applies to the threshold re gift tax from a parent to a child? eg if I was given 100K by a parent 10 years ago and was now to be given another gift would they be added together to see if they breached the threshold for tax (now 250K) or is the gift 10yrs ago no longer relevant? Also is it up to the the parent or the child to notify the revenue of a gift?
Thanks in advance
Thanks in advance