Royal Skandia is adding an inheritance tax planning tool to complement its offshore single-premium b...
Royal Skandia is adding an inheritance tax planning tool to complement its offshore single-premium bond range.
The Discounted Gift Trust is designed specifically for UK inheritance tax planning under the current rules for potentially exempt transfers. The product will reduce clients' inheritance tax liability immediately but will still provide regular payments from capital.
It also offers a cash sum for the chosen beneficiaries, potentially free from inheritance tax. By retaining a right to future withdrawals, the value of the gift is discounted to minimise any potential tax liability.
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