It takes seven years before a gift becomes fully exempt from inheritance tax (IHT). Up until that point, clients making gifts could still face IHT liabilities. But with this new gifting calculator, you’ll be ideally placed to help them understand what these liabilities could be, and whether there are alternative estate planning solutions, such as BPR-qualifying investments, better suited to their needs.
It’s simple to use. Just input the details of your client’s estate, make a note of any gifts made in the last seven years, and let the tool do all the calculations – including the impact of taper relief – for you. After completing the calculator, you’ll get a PDF report for your own records.
Investments that qualify for BPR are considered to be high risk. The value of a BPR-qualifying investment, and any income from it, can fall as well as rise. Investors may not get back the full amount they invest. The availability of tax relief depends on individual circumstances and could change in the future. Tax relief also depends on the portfolio companies maintaining their BPR-qualifying status.