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Gilts IHT exempt
aroominyork
Posts: 3,885 Forumite
I was told a couple of days ago that gilts are IHT exempt, and searching online confirms this. No minimum holding period. So if, for example, a person is known to be dying, they could move all their investments into a nominal gilt and their estate would avoid IHT. Is that really so?
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Isn't there a seven year rule to avoid paying IHT?0
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I think this is for "non-doms".
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"UK government bonds, or gilts, are generally exempt from IHT." https://www.sippadvice.co.uk/guides/sipp-inheritance-tax. Nothing about non-doms. (Late edit: read through the thread and, unless you receive professional advice, do not rely on this link.)
Edit. Other sources mention non-dom. I think you may be right, masonic. It honestly wouldn't make any sense.
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Strange article - Gilts are most definitely counted as part of an estate for UK IHT purposes - at least for domiciled UK people.aroominyork said:"UK government bonds, or gilts, are generally exempt from IHT." https://www.sippadvice.co.uk/guides/sipp-inheritance-tax. Nothing about non-doms.
Edit. Other sources mention non-dom. I think you may be right, masonic. It honestly wouldn't make any sense.I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.2 -
If this were true and it was so easy every man and his dog would already be doing it and not messing around with gifts and investing in shares listed on AIM.2
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https://www.taxadvisermagazine.com/article/fotra-securities-question-residence-inheritance-tax
See above authoritative article from Tax Adviser magazine ( a trade journal for tax professionals) re the excluded property status of gilts ( fortra securities) for UK non residents and nom doms.
Previously fortra securities to avoid UK IHT, was the exclusive preserve of Non Doms. However with the extension to all Non UK resident individuals ( including UK doms ), there are now interesting opportunities for legal IHT mitigation for non resident Brits using these securities.
Some of the examples given in the article maybe food for thought for some.
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Do you reckon Rachel Reeves subscribes to this journal?
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