CLERICAL Medical has launched a Discounted Gift and Income Plan (DGIP) that assists clients in reducing their inheritance tax (IHT) liability. It allows the client to nominate the trust beneficiaries, while retaining rights to an income from it. The plan will appeal to those seeking to reduce their potential IHT burden, while avoiding the costs and reporting requirements of discretionary trust arrangements.
Unlike the discretionary DGIP, the new plan avoids the immediate 20pc IHT charge for investments in excess of £300,000. As such, it is similar to a ‘bare trust’, though the latter has no retained income...
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till