Search results

Thanks...That is a nuance i hadn't understood before which is very sly. Effectively this makes it a 7 year window with no relief in the majority of cases since i would imagine not many can afford to gift more than £325k! (since you can't retain any ownership of the assets...e.g. living in the house)

yep Equity release is popular

After 7 years the gift is exempt from tax. Between years 3 and 7 it ratchets from 100% down to 0% at 20% per year. So if you gift now and die in 2 years they pay tax on 100% of the gift at your marginal tax rate, if you die in 4 years time you would pay tax on 60%, after 7 years you pay nothing...