You can give away money without it counting towards inheritance tax, but there are limits.
The main one is the annual exemption of £3,000.
If you don’t use it, you can carry it forward one year, making a maximum of £6,000.
Small gifts of up to £250 per person each year are also allowed, provided you haven’t already used your £3,000 exemption for them. Wedding gifts have higher limits: £5,000 to your own child, £2,500 to a grandchild, and £1,000 to anyone else.
Larger gifts are covered by the seven-year rule. If you live for seven years after making the gift, it is free from inheritance tax. If you die within seven years, it may be taxed, with taper relief reducing the rate over time.