Select Account Discounted Gift Trust

Reducing your inheritance tax and supplement your income

A discounted trust account is a way of removing money from your estate and reducing the potential inheritance tax that your beneficiaries will have to pay when you die. The underlying trust also allows you to receive periodic payments from the investment - these payments will be set at outset and can be paid monthly, quarterly, half yearly or yearly to supplement your income.

Using this trust combined with the Select Account gives you and the trustees a comprehensive range of funds to invest in.

As a market leading provider of onshore bonds, Canada Life offers you the security you need from an investment partner. The CanInvest Select Account allows you access to income and capital without incurring any penalties, within a competitive and transparent charging structure.
The Account is a tax efficient solution for some investors because tax is accounted for in the investment and this is treated as being equal to basic rate income tax even though, in general, the rate of tax is lower.

  • The Account offers a simple, transparent charging structure.
  • The potential inheritance tax payable when you die will be reduced immediately, with a further reduction after you have survived seven years from the original investment.
  • There is unlimited free switching between the funds available allowing you and your adviser to restructure the investment as required.
  • After you die, the value of the trust will be available. Depending on the type of trust used, the trustees can pay these funds out to the chosen beneficiaries or maintain the trust and pay out benefits as and when they chose.
  • A comprehensive phased investment facility is available allowing money to be moved between different investment funds over a required period of time.

The Select Account allows you and your adviser to tailor an investment to your objectives, both now and in the future. Our investment solution has been achieved through our rigorous fund selection and governance process; drilling down through thousands of funds that are available today – refining the options into a high quality range, allowing you and your adviser to select suitable investments.

The Discounted Gift Trust will appeal to UK investors who want to combine a simple tax-efficient investment and reduce the inheritance tax liability on their estate whilst receiving regular payments to supplement their income.

The value of investments can fall as well as rise and you should speak to a professional adviser to ensure that any investment is suitable for you.

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Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.