Any gifts you make to individuals will be exempt from Inheritance Tax as long as you live for seven years after making the gift. These sorts of gifts are known as ‘Potentially Exempt Transfers’ (PETs).

However if you give an asset away at any time, but keep an interest in it – for example you give your house away but continue to live in it rent-free – this gift will not be a potentially exempt transfer.

If you die within seven years and the total value of gifts you made is less than the Inheritance Tax threshold, then the value of the gifts is added to your estate and any tax due is paid out of the estate.

However, if you die within seven years of making a gift and the gift is valued at more than the Inheritance Tax threshold, Inheritance Tax will need to be paid on its value, either by the person receiving the gift or by the representatives of the estate.

If you die between three and seven years after making a gift, and the total value of gifts that you made is over the threshold, any Inheritance Tax due on the gift is reduced on a sliding scale. This is known as ‘Taper Relief’.

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Wonderful service provided by Helen Green – very thorough knowledge. I am extremely satisfied as I was helped through a difficult time when I was uncertain how to go forward.

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Hassle free service, just give them the facts they require – let them get on with it – Simples

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Thanks for the work of your staff led by Maria. I would like to highlight the contribution of Nadya & Leona in these transactions. While Maria is often the one in the sunshine so to speak, it is through the background work performed by these two that allows this to happen.

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I have been completely satisfied with help given by Helen and feel that my affairs are now in safe hands.

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Everything was great Michaela. Thanks!

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I would like to praise Adam Cohen with the way he has looked after both me and my wife. He has been very thorough and helpful with us.

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A very professional and friendly service from Helen using clear plain English that is easily understood.

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I warmly recommend Helen Green for her efficient, speedy, relevant, comprehensible response and whole manner in dealing with the difficult issue of probate.

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