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The seven best tax loopholes for giving gifts to the grandchildren this Christmas

A gift and pound signs 
From gifting excess income to setting up a trust: these are the best ways to give to family while cutting your tax bill 

Christmas is a time for giving – but generous family members should be careful not to fall foul of the taxman on December 25. 

This money can easily get eaten away by HM Revenue & Customs’ (HMRC) complex web of rules around gifting. Those who know how to navigate its web can save themselves thousands of pounds in the long run. 

Follow Telegraph Money’s guide to our seven favourite loopholes for cutting your tax bill while gifting to the grandchildren. 

Gifting for a big life event 

Families can gift money to children to help pay for important life events.

For instance, parents with children who are getting married could give up to £5,000 to each child as a wedding gift this Christmas, while grandparents...

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