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The seven-year rule

HMRC introduced the seven-year rule to prevent individuals close to death from mitigating their inheritance tax liabilities by transferring parts of their estate over to family members.

By gifting assets to your intended beneficiaries more than seven years before death, you will potentially avoid inheritance tax (known as a ‘potentially exempt transfer’).

We can advise you on the benefits and pitfalls of signing away parts of your estate to help you make the best decision whilst reducing your IHT liabilities.

Disclaimer: This service is regulated by the FCA.