Lifetime gifts can affect UK Inheritance Tax (IHT) planning.
Featuring in The Scotsman Money Q&A, Wendy Morrison explains that larger gifts made during your lifetime may be exempt from IHT if the giver lives for seven years after giving them, but could still be taxed if death occurs sooner.
Wendy outlines how this “seven-year rule” works alongside annual exemptions and the Government’s IHT thresholds. For anyone considering significant lifetime gifts or estate planning, it pays to understand the implications and to get in touch with a financial planner for further clarity.
Read the full Q&A in The Scotsman here.
Editor’s Notes
Published in Scotsman Money 18th December 2025.
The information provided is the opinion of Wendy Morrison, Associate Financial Planner and should not be considered advice.
Acumen Financial Planning Ltd is authorised and regulated by the FCA, FRN 218745.