HM Treasury responds to 'bank of mum and dad' tax rumours

HM Treasury responds to ‘bank of mum and dad’ tax rumours

Several reports have recently alleged that a new rumoured proposal will reduce the longstanding £3,000 annual tax-free gift allowance. As rumours of the change swirl, financial coach Benjamin Beck commented: “Family gifts can be the difference between affording a deposit, keeping up with bills, or accessing good education. The Chancellor @RachelReevesMP has commissioned the @OBR_UK to…

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