Carryover PETs - Where to enter potentially exempt transfers that predate the start of the plan

You can enter potentially exempt transfers (PETs) that predate the beginning of the plan on the Taxes screen. This screen is used to capture all manner of tax and pension related information that predate the beginning of the plan.

Go to the Taxes screen. Expand IHT Nil Rate Band Carryover.

Click Previous Potentially Exempt Transfers.

This panel gives you the option to enter PETs made up to seven years before the start of the plan. Any gifts made earlier than seven years will by now have completely left the estate so there would be no need to enter them.

Since PETs are tracked for the potential IHT liability of the individual, be sure to select the appropriate person who made the gift on the screen's People panel.

A functional note. PETs are entered into a table panel. Double click on the Transfers field for each year/row on the table. As you enter each transfer, be sure to press Enter on your keyboard to commit each entry. Once all of the PETs are entered, click the Add or Update button to save this change.