Tax Free Gift Limit 2024 Uk 2024. Each tax year you get what’s called an ‘annual exemption’, which allows you to give £3,000 as a gift, tax free, without it being added to the value of your estate. The 2024 budget sets out the new government’s tax, welfare, and spending priorities up to march 2026, with a framework for spending beyond april 2026.
There’s a limit of £100 on the amount of interest a child can earn on the money you gift them if they are under 18. This means your estate could benefit from gifting up to £6,000 tax free before 5 april 2024.