SL calls for consistency to discounted gift trusts

The Edinburgh-based life insurer says a clearer, more consistent approach is needed to the product to provide more certainty for customers and help advisers to concentrate on investment issues as well as quality of service and underwriting. A discounted gift plan is designed for customers who want to gift money to a trust as part of their IHT planning strategy, while retaining a right to future set payments from that trust which are often called "income". The role of the discount is only relevant if the customer dies within the first seven years of creating the plan. In that case, the ...