PETS chargeable transfers and cumulations

When Government was consulting, during the Summer of 2014, on changes in the way IHT would be charged on the ten-year anniversary and exit charges, it seemed that the making of lifetime settlements would be strongly discouraged. In particular it seemed that the ability to make a nil-rate band settlement every seven years, under which property would be able to enter the settlement without IHT being payable and also leave it during the succeeding ten years, without an immediate IHT charge, would be lost.