Tax Team in Taxation Magazine – September 2021
Our Tax Manager – Advisory, Lerona Waskar, was published in the Readers’ Forum of Taxation Magazine, answering a question about gifts out of income.
In her answer, Lerona discusses at what point a gift out of normal expenditure actually becomes a gift out of normal expenditure. Although HMRC places importance on there being a pattern, a single gift can still qualify for the relief as emphasis is placed on intent. Thus, ensuring there is sufficient supporting evidence from the start is important.
Read the full question alongside Lerona’s answer by clicking the ‘Download’ button below.