Hi, I'm new to this but need advice. My parents have given me and my brother a substantial cash gift.As I understand it, a parent can gift £3,000 per year to a child free of any IHT liability. Download a free gift letter template for any occasion. Use this customizable Word and PDF template to create a personalized gift letter. Money Gift Letter From Parents Template provides a simple and elegant format for expressing love and support through monetary gifts. A gift letter is an important, formal, legal piece of documentation that can help explain that a (usually rather large) sum of money was gifted to you.