Gift Tax 2024 Limit Uk. With your annual gift allowance, you can give away assets or money up to a total of £3,000. This means that an individual can gift up to $16,000 to each of their beneficiaries without incurring.
In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025). The amount you can gift tax free in the uk if you are liable for inheritance tax is £3,000 a year, known as your annual iht exemption rate.