Malcolm Finney considers whether giving assets away is always easy for inheritance tax and pre-owned assets tax purposes.
In this article, PETs refer to potentially exempt transfers for inheritance tax (IHT) purposes; GWRs refer to gifts with reservation of benefit; and POAT to pre-owned assets tax.
Potentially exempt transfers
PETs are typically lifetime transfers made by individuals to other individuals. An attraction of PETs is that no immediate IHT charge arises at the date the gift
