Has anybody seen the Balfour matrix successfully applied to lifetime gifts?
Previously, we have really only seen it assessed on death as the advice has been to hold APR/BPR qualifying assets until death. With the APR/BPR changes coming in from next year, has anyone had experience of HMRC’s view on a lifetime gift of qualifying assets being made and applying Balfour to the whole transfer (therefore sheltering some mixed use assets)? Or would HMRC look at the transfer of the individual assets?
I’d be interested to hear some views on this please.