What are the arguments for and against taxing lifetime gifts at the same rate as transfers on death?

Nov 4, 2024 ... ... chargeable lifetime transfers). Shares listed on ... chargeable lifetime transfer, depending on asset values and any reliefs or exemptions. Jun 12, 2020 ... Whilst there are various chargeable transfers, the most common lifetime chargeable transfer is that of a gift to a trust. If a UK domiciled ... Chargeable Lifetime Transfers (CLT). Which is the transfer of money or assets into a trust. The general rule is that a person can make a gift as a PET and ... ... lifetime (known as Potentially Exempt Transfers (PETs)). An exception ... Chargeable Lifetime Transfer (CLT)). Setting up a trust. Assuming you haven't ... Oct 26, 2021 ... For lump sum investments, the initial gift is a chargeable lifetime transfer for Inheritance Tax purposes. ... transfers into the trust will be ... charged on chargeable transfers which you make during your lifetime, as well ... by treating it as a chargeable transfer and cumulating with it any chargeable. The two main types are potentially exempt transfers (PETs) and chargeable lifetime transfers (CLTs). PETs are lifetime gifts made directly to other individuals, ... Dec 12, 2024 ... Any tax charge (but not the value transferred) is reduced by taper relief as set out above. Chargeable lifetime transfers which are not PETs are ... Sep 5, 2022 ... However, waiving a company loan is a chargeable lifetime transfer (CLT) and IHT is payable at 20% on the value of the transfer in excess of ... Mar 15, 2024 ... These lifetime gifts are known as potentially exempt transfers (also known as PETs) and are not restricted in value. Should an individual die ...