Flexible Gift Trusts

These are sometimes known as Flexible Reversionary Trusts. In these schemes the client invests capital in a series of separate policies. The client can put in a total of up to £325,000 (2015/16). The series of policies are set to mature on different dates and when they mature the client can either take the maturity fund or defer it further. But they don’t have to. The advantage here is that the investment is a Chargeable Lifetime Transfer so that it uses up part or all of the client’s lifetime allowance but their allowance is reinstated after 7 years. It is a not a Gift with Reservation of Benefit and accordingly after 7 years the client is free to set up other Trusts which can be fresh Chargeable Lifetime Transfers. The client does not have access to capital.

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