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IHT and PETs
Comments
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A loan from the point of view of the tax man is an asset of the estate - so be very careful of lending £1000 to each of your children and then leaving them your estate, What you might well have done is given £600 to each child and £400 to the tax man.
The whole concept of IHT relies on parents being unable to trust their children.
Have you poked about with the concept of a "discounted gift trust".0 -
John_Pierpoint wrote: »A loan from the point of view of the tax man is an asset of the estate - so be very careful of lending £1000 to each of your children and then leaving them your estate, What you might well have done is given £600 to each child and £400 to the tax man.
The whole concept of IHT relies on parents being unable to trust their children.
Have you poked about with the concept of a "discounted gift trust".
Thanks for this.
No will look into the "discounted gift trust" issue.
VigmanAny information given in my posts or replies is intended to be of interest and/or help to members of the forum. I cannot guarantee that this is accurate or up to date.0
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