Do you want to give a large gift of money to your children? Get to grips with taxes, rules and options with our leaflet on related party transactions.
Taxes and formalities must be in place before the Tax Agency approves gift transactions between close family members.
In the leaflet 'When you give gifts' you can see, among other things, how much the gift tax is for different family relationships. We also look at the possibility of giving a gift in the form of debt forgiveness or as a so-called demand loan.
You'll also find examples of when you need to pay tax and when you don't.
Amounts and taxes have been updated so you can see the rates for both 2022 and 2023.