Gifts made within 7 years of death may be subject to IHT. Taper relief applies for gifts made 3–7 years before death. Gifts over 7 years ago are fully exempt.
Assets already transferred into trust or gifted as Potentially Exempt Transfers (PETs) that have run their 7-year clock may reduce your estate value. Include the value of assets already moved.
Critical: Life insurance written in trust pays out outside your estate and can be used to meet an IHT liability. Policies NOT written in trust increase your estate and may themselves attract IHT. If your policies are not in trust, this is an immediate planning opportunity.
A calculation shows the problem.
We provide the solution.
B² Estate Planning will assess your position, model the impact of available strategies and recommend the most appropriate solution for your circumstances.