I am aware of how the 14 year rule applies to when CLT and PET gifts are made, and how the order that these gifts are made is important. If there is no CLT involved however, and only a number of PETs, I did not think that the 14 year rule applied. Is this correct?
I am posing the question because I came across this article which states that serial PET gifting is impacted by the 14 year rule. Have I missed something or is this article incorrect.
http://penguintaxplanning.co.uk/misconception-around-gifts-taper-relief
"This rule is to discourage serial gifting as a means of reducing your estate. Let’s use an example; if you gifted £100,000 in July 2007 and £100,000 again in June 2014 and died before June 2021, the values of both gifts will be entered back in your estate and become subject to IHT. Why? With the fourteen year rule in place, you have effectively reset the seven year clock on the first gift as the initial seven year period was not complete."
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