That a Discounted Gift Trust can be a good idea - if it is set up properly. 

If you want to get an immediate saving on Inheritance Tax and still get an income, then a Discounted Gift Trust can be a good idea. 

 

However these are normally set up on a discretionary basis but that uses up part of your lifetime allowance for Inheritance Tax.  We suggest that you have your Discounted Gift Trust set up on an Absolute basis which means that your lifetime allowance for Inheritance Tax is not affected.

 

As an example, if you invest £100,000 into a Discounted Gift Trust you will normally take 5% withdrawals i.e. £5,000 per annum.

 

Depending on your age and health 30% of that might be immediately exempt from Inheritance Tax.  And the rest is exempt after the usual 7 year period.

 

Everyone’s circumstances are different and it is important that you get advice particular to your circumstances.

 

To find out what we can do for you just call 0800 852 1999 or email us at contactus@mcclure-solicitors.co.uk.

 

Home visits are available.

Act now to save later.
Arrange a free consultation today.

0800 852 1999

Call our dedicated appointments line today or complete the form provided to arrange your first meeting with McClure. It will cost you nothing and could save you and your loved ones money, time and hassle.

Aberdeen | Bath  |  Birmingham  | Cardiff  |  Edinburgh  |  Exeter  |  Glasgow  |  Inverclyde  | Leeds |  Liverpool  |  London  |  Newcastle  |  Plymouth  |  Southport  |  Truro

Appointments (Freephone) 0800 852 1999  |  General Enquiries (Local Rates) 0845 450 2408  |  Email contactus@mcclure-solicitors.co.uk

To read about how we handle your personal data, please view our Privacy Notice

Find out more about our Terms of Business

WW & J McClure Trust Corporation’s Terms & Conditions

Copyright © McClure Solicitors 2020. All Rights Reserved

W W & J McClure Ltd trading as McClure Solicitors.

Directors: Andrew J Robertson, Stewart Moore & Stephanie Hutton

Authorised and Regulated by the Solicitors Regulation Authority (Reg No 618692)

Authorised and Regulated by the Law Society of Scotland (Reg No 19114)