Gifts of cash

Thanks ticktock. That's how I read it but was concerned I might have missed something.
May have a word with my solicitor and if I learn anything new, I'll report back.

If your estate isn't liable for IHT (and with the new "residence nil rate band", even fewer estates will be now), you can give away as much as you like, and even if you die tomorrow, there will be no tax complications.

"Deprivation of assets" with a view to avoiding care home fees is another matter, but I don't think gifts to grandchildren would affect that.

Not £3 per year but £3k per year!

Most of what I have read only applies to estates subject to IT.
Mine won't be so I can't see why these limits apply.
Or am I missing something?
Even if I die a year or so after the gifts are given and even if they are counted back into the estate it won't attract IT.
I'm aware of the 'deprivation of assets' side of it but my ACs agree that if necessary they'll help with care fees!!!
So what do you think - stick to £3 per year or give each (of 3) whatever I choose?

You can gift whatever you want but if you die in 7 years it gets added back to your estate for tax purposes, subject to a sliding scale if you die after 3 years. You can make gifts for birthdays etc from income and there is a £3000 annual allowance. If you don’t use your allowance one year you can use it the next. Try the HMRC website it explains it all.

As far as i am aware you can give your children and anyone else whatever you wish. BUt if you die within 7 years it may be included in your estate and if that brings it over the inheritance rate then it would be included.
The £3k is tax free inasmuch as it doesnt form part of a taxable estate.
On the other hand, i could be wrong.

Watching with interest mcem
I remember regarding my DF the solicitor said there was a £3k limit .
But as I am in my late fifties (and hoping I got a few years left) I wonder at what age it applies.
I want to be able to help my DC & GDC as and when required
Is there an actual age when the £3k kicks in?
I believed it to be more to do with a care home fees than inheritance tax .