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What evidence is required when making a gift as a potentially exempt transfer?

Answer
R D
Posted Wed, 18 Dec 2024 14:45:51 GMT by R D
Hi. Could someone please clarify what requirements HMRC have for citizens to evidence a potentially exempt transfer (PET)? Is a letter sufficient for a gift made and does that have to be signed by both parties and if so does that in turn have to be witnessed? Is any other evidence required? Thankyou. Rob
Answer
HMRC Admin 20 Response
Posted Thu, 09 Jan 2025 11:32:43 GMT by HMRC Admin 20 Response
Hi RD,
please refer to How Inheritance Tax works: thresholds, rules and allowances or telephone the IHT helpline on 0300 123 1072.
Thank you.
R D
Posted Thu, 09 Jan 2025 13:11:37 GMT by R D
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