More than 14,000 British households were landed an unexpected bill from the tax office for breaking a key seven-year gift rule.

HM Revenue and Customs (HMRC) has collected millions of pounds in inheritance tax , the UK's "most hated tax", for “gifts gone wrong” because relatives died within seven years of gifting them. Not only do the grieving families have to go through the bereavement, but they also have to part ways with some value of the gifts. Figures show that 14,030 gifts were subject to inheritance tax during the 2022/23 financial year, The Times reports . The 25 biggest “failed gifts” were worth £7.9 million each on average after allowances and exemptions were used up.

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