Furthermore, the marriage exemption can be combined with the £3,000 a year IHT exemption. This allowance can be carried forward for one year if unused.
“Remember, you and your spouse or registered civil partner can each give £3,000 out of your capital every tax year, in addition to gifts you make out of your regular income,” says Thomas.
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On regular gifting, he says: "As long as you establish a pattern of gifts that can be shown to be covered by your net income, without reducing either your capital assets or your normal standard of living, these gifts will be free of IHT."
The recipients of the gifts in this case need not be the same people each year.
carmen.reichman@ft.com
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