The Lemon Fool

Just been reading: Eight things executors need to know
(IC 30 April 2021)
https://www.investorschronicle.co.uk/ideas/2021/04/27/eight-things-executors-need-to-know/
or via Google https://www.google.co.uk/search?q=investors+chronicle+executors

and it says

Investors Chronicl wrote:You also need a list of all gifts made out of the estate made by the person in the preceding seven years and gifts made since 1986,

That got me slightly anxious; do I have to document gifts beyond the last 7 (or possibly 14) years for my exors? Why would gifts since 1986 be relevant? The only thing I can find relates to GROB (Gifts with reservation of benefit) (see e.g. IHT 403: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/917890/IHT403-05-20.pdf)

yorkshirelad1 wrote:Just been reading: Eight things executors need to know
(IC 30 April 2021)
https://www.investorschronicle.co.uk/ideas/2021/04/27/eight-things-executors-need-to-know/
or via Google https://www.google.co.uk/search?q=investors+chronicle+executors

and it says

Investors Chronicl wrote:You also need a list of all gifts made out of the estate made by the person in the preceding seven years and gifts made since 1986,

That got me slightly anxious; do I have to document gifts beyond the last 7 (or possibly 14) years for my exors? Why would gifts since 1986 be relevant? The only thing I can find relates to GROB (Gifts with reservation of benefit)

I think they are saying that if there are GROBs or POAs then you have to go back in time further than the last 7 years, but never before 1986 when presumably the statute that enacted those provisions was made into law.

Also even in cases where benefit was reserved, if that benefit ceased more than 7 years ago then it can still be ignored.

PS: you might want to post a cross-link on the Taxes board.