Start discretionary trust, recent PET
2 posts • Page 1 of 1
Start discretionary trust, recent PET
by aboveusonlysky on Mon Dec 12, 2011 12:44 pm
If someone wants to start a discretionary trust, but made a £50,000 gift to a son 2 years ago, how much can they put in a proposed discretionary trust without incurring liftetime IHT - £325k or £275k? There are no other trusts or gifts.
- aboveusonlysky
- Posts: 11
- Joined: Wed Aug 06, 2008 4:06 pm
Re: Start discretionary trust, recent PET
by Lee Young on Mon Dec 12, 2011 2:45 pm
£325,000. The £50,000 only becomes relevant if death occurs within 7 years.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner
Partner, Frettens LLP
leeyoung@frettens.co.uk
01202 491701
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner
Partner, Frettens LLP
leeyoung@frettens.co.uk
01202 491701
- Lee Young
- Posts: 2740
- Joined: Wed Aug 06, 2008 3:26 pm
2 posts • Page 1 of 1
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