Can my parents gift my family of 4 €24000

[Dr Strangelove]

I won’t get the kids involved!!

It depends on the age of the kids and circumstances.

If you had a kid in college for example you could suggest that they pay their college fees with a €3k gift from grandparents and whatever you do with the €3k you don’t have to pay on fees is your own business.

For minor kids without financial capacity it would clearly fall foul of the anti-avoidance measures set out above.


Otherwise I think people worry too much about using up their lifetime allowance early for two reasons:
1) money has a time value. €100 today is worth more than €100 in twenty years
2) over the course of decades the lifetime exemptions are highly likely to be adjusted upwards.

 

[phoenix53]

Hi. How do you record these 3000 gifts pa and where do you store the record?
Can you give the 3000 as a 250 euro payment per month into a savings policy. So policy in name of child , payment from parents account.
Thanks

 

[Sue Ellen]

Hi. How do you record these 3000 gifts pa and where do you store the record?
Can you give the 3000 as a 250 euro payment per month into a savings policy. So policy in name of child , payment from parents account.
Thanks

This previous AAM thread might help somewhat with your query.

 

[Zenith63]

€100 today is worth more than €100k in twenty years

I knew time-value was an important concept but wow that would be food for thought!

 

[Dr Strangelove]

I knew time-value was an important concept but wow that would be food for thought!

Oops

Inflation is a thing again though.