Discounting the discount: Discounted gift trusts explained

"Off-the-shelf" trusts from UK life offices (and their overseas branches) provide financial planners with trust solutions that might help reduce or eliminate their clients' inheritance tax (IHT) liability. The big four are the gift trust, loan trust, discounted gift trust (DGT) and flexible reversionary trust (FRT). Other than the same-day additions rules introduced by the Finance (No.2) Act 2015 in IHTA84/S62A, the last time the government made significant changes that impacted the above four types of trust was on 22 March 2006. Of course, the introduction of the Trust Registration S...