How much can you gift if you win the lottery UK?

[kayode10]

One of the things that happens when someone win the lottery is to give friends and family some money out of it. it is impossible not to give a portion of the money out.

One of the questions I want to ask you guys is that How much can you gift if you win the lottery UK? I will be glad if anybody can give me the right answer to this question in the comments section below.

 

[SlotsMaster]

The amount to give out will depend solely on the amount that have one and if I won a respectable amount of money giving part of that money wouldn't be a problem for me at all. It is indeed a privilege.

 

[James108]

In the UK, lottery winners can gift up to £3,000 per tax year without having to pay any tax on the gift. It's important to note that the annual exemption only applies to cash gifts. If you give away an asset, such as a property or shares, the value of the gift will be subject to inheritance tax.

 

[Qwert135]

You can give a percentage of the amount that you feel ok to give and the amount which does not matter for you actually to be honest there are many people who do give a good amount of money to their family and if the family needs it and has supported you always it is right choice to do so indeed actually .