If you give money, investments or other assets away it can trigger an immediate inheritance tax (IHT) charge. However, there are many exemptions and exceptions. If none of them apply it still does not necessarily result in an IHT bill where the gift counts as a potentially exempt transfer.
The Flow Chart - Inheritance Tax - Gifts During Lifetime will help you decide if a gift will result in an immediate IHT bill or is exempt or potentially exempt.
You may find our Record of Gifts and IHT Gift from Surplus Income Letter helpful to avoid an IHT charge.