The Gift Scheme allows a person (the donor/settlor), who does not need continuing access to their capital, the opportunity to reduce the potential inheritance tax (IHT) liability on their estate by making a lifetime gift for IHT purposes. The gift is invested in a bond by the trustees, or it may be possible for the donor/settlor to assign an existing investment bond to the trustees.
The value of the bond held within the trust can fall as well as rise and your clients' beneficiaries may get back less than your clients invested.
To find out more please talk to your usual Legal & General representative or email our technical team
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