Gifts Excluding Inheritance Tax
3,000 can be given away during a tax year annually, and Inheritance Tax does not have to be paid on it. It is also permitted to carry forward any amount or full 3,000 exemption on to the year to come, if you do not have the opportunity of using it before the following year. Hence, in case your exemption has not been used before, you can give away 6,000 during a tax year.
