Any Tax relief for Grandparent gifting to Grandchild

[JimmyCorkhill]

Hi, I had a look online but couldn’t see anything particularly clear to answer my question.

Is there any tax relief a grandparent could get if they were to gift through cash or say prize bonds €500 a year for 18 years to a grandchild?

Thanks

 

[Gordon Gekko]

Hi, I had a look online but couldn’t see anything particularly clear to answer my question.

Is there any tax relief a grandparent could get if they were to gift through cash or say prize bonds €500 a year for 18 years to a grandchild?

Thanks

Yes, the Small Gift Exemption which enables a person to gift up to €3,000 per year to any other person tax-free.

 

[KOW]

Hi, I had a look online but couldn’t see anything particularly clear to answer my question.

Is there any tax relief a grandparent could get if they were to gift through cash or say prize bonds €500 a year for 18 years to a grandchild?

Thanks

Like Gordon states. You can gift up to 3k per person per year with no tax issues for anybody.
If I am reading your question correctly there is no actual tax relief for the grand parent.

 

[jpd]

The grandparent doesn't get any tax relief per se - gift tax, or CAT, is paid by the recipient not the donor.

You can receive € 3,000 per annum taxfree from anyone - no limit on the number of € 3,000s gifts you can receive

 

[JimmyCorkhill]

Like Gordon states. You can gift up to 3k per person per year with no tax issues for anybody.
If I am reading your question correctly there is no actual tax relief for the grand parent.

The grandparent doesn't get any tax relief per se - gift tax, or CAT, is paid by the recipient not the donor.

You can receive € 3,000 per annum taxfree from anyone - no limit on the number of € 3,000s gifts you can receive

Thanks both, yes I was wondering about relief solely for the Grandparent. I was aware of the small gift exemption for the recipient but wanted to understand was there any relief for the donor (however unlikely that may have been).