IHT 7 year rule

[kiloware43]

I have heard that in counting back 7 years from the latest gift, if a previous gift was still somewhere in the 7 year cycle then that gets roped in as well (albeit tapered I assume). Say gift in 2005, another 2010 - dies in 2015. So Is it do your gifting, and then don't make any more for another 7 years? I am referring to PETs - assigned insurance bonds. Thanks

[Lee Young]

For PETs you only go back 7 years. There is a 14 year trap with chargeable lifetime transfer.