There is, presently, no way to gift a bond within the software without first liquidating it, then gifting the proceeds to the recipient. 

Suggested work-around:

1. Open the bond entry from the Dashboard. In the Timing screen for the bond, add an event to the Timeline for the year the bond is to be gifted (if one does not already exist) and use this to schedule the liquidation of the bond. 

2. Identify the value of the sale proceeds from the Let's See screen > Year View > Cash Flow or Investments.

3. On the Dashboard, click the + button and add an expense for the gift using the special Legacy expense option. This will schedule a one-off gift, for the value of the proceeds (using the same event as used for the sale of the bond). This is the simplest way to input PETs into the software, you can find more details about this expense type here.

Tip: For the Legacy expense, one will want to select 'Future Value', or set inflation to 0%, to ensure the intended gift amount does not get inflated.

Tip: If the bond is being gifted to more than one recipient, input more than one Legacy expense for the amounts each recipient will receive.


Important Consideration:

Unfortunately, this could result in a tax charge arising as the software will treat the liquidation of the bond as a chargeable event, since the software does not have the capacity to recognise the gift and not apply the tax, as we know is what would happen in real life with an assignment of a bond. Of course, whether a tax liability arises as a result of the chargeable event calculation will depend on the value of the bond, and the client's tax position at the time of the gift.

If you would like us to take a look at a specific client plan to provide further guidance, then please contact Voyant Support and we'll be happy to do so.