Gift Inter Vivos
If you are looking to protect your clients inheritance tax liability for gifts, turn to LV=.
Gift Inter Vivos is a decreasing term assurance designed to cover a potential Inheritance Tax (IHT) liability when someone gifts a large sum of money. It lasts for a fixed 7 years and decreases in line with the IHT liability it is covering.
A Gift Inter Vivos plan is only needed for an excess gift over the Nil Rate Band (NRB). Anything up to the NRB should be covered by a level term assurance.
How much tax you pay depends on your client’s personal circumstances. For details of how benefits from your client’s plan will be taxed, please see the Key Features document. Any references we make to taxation are based on our understanding of current legislation and HM Revenue & Customs practice, which can change.