Standard Life adds collectives to Gift Plan

Previously, the majority of unit providers, including Standard Life, only allowed onshore and offshore bonds to be held in a trust wrapper. However, the expansion of the Gift Plan will enable investors to save money on a one-off basis into a unit trust or OEIC and benefit from any growth in the value of the funds being outside the individual’s estate for IHT purposes. The capital value of the gift falls outside the individual’s estate after seven years. It is anticipated the mutual fund option will appeal to high net worth individuals although being an income-producing asset, a tax retu...