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Where Taxpayers and Advisers Meet
IHT205 Discounted Gift Trust
Question is: What value, if any, to insert at question 9 on IHT205? Discounted Gift Trust set up in 2006 with Investment Bond. 2 Settlors who have been receiving monthly payments of capital, 3 Beneficiaries. I settlor now deceased. I have 3 values from Discount Certificate 1) Sum Invested, 2) Value of the PET, 3) Value of the Discount. I also have current value. Which value goes in Question 9.3. I had assumed zero as gift was made 12 year before death but because deceased took withdrawals monthly need advice.
Re: IHT205 Discounted Gift Trust
As it was more than seven years ago it is not relevant for the IHT return. There is no gift with reservation because of the structure of the investment.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner
Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner
Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701
Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”