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Hitting
Hitting Posts: 191 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Cutting tax
Does the 7 year rule applicable to a PET refer to Tax years or Calender years?

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  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Hitting wrote: »
    Does the 7 year rule applicable to a PET refer to Tax years or Calender years?

    It refers to elapsed time. If you make a gift on 1/7/13 and live to 1/7/20, you're in the clear. Or so I've always understood.
    Free the dunston one next time too.
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