Which gifts are exempt from Inheritance Tax?

Melanie Wright is money editor at Rest Less. An award-winning financial journalist, she has written about personal finance for the past 25 years, and specialises in mortgages, savings and pensions. She is a former Deputy Editor of The Daily Telegraph’s Your Money section, wrote the Sunday Mirror’s Money section for over a decade, and has been interviewed on BBC Breakfast, Good Morning Britain, ITN News, and Channel Five News. Melanie lives in Kent with her husband, two sons and their dog. She spends most of her spare time driving her children to social engagements or watching them play sport in the rain.