Ndubuisi 'Andy' EgwimMoney Coach for Medics|Ex-NHS GP|21+ Yrs Investor| Founder, MoneyWiseDoctor.com|Helping Medics Avoid Big Money Mistakes

Her Grandfather Gifted Her a London Property

2 Sept 2026 · 2 min

Watch on YouTube

1:45

In this short YouTube monologue, Ndubuisi “Andy” Egwim tells the story of a GP who received a London property from her 90‑year‑old grandfather. While the gift seemed beneficial, the recipient learned from Andy’s book, The Money Wise Doctor, about the UK inheritance tax (IHT) rules that apply to lifetime gifts. Andy explains the potentially exempt transfer (PET) 7‑year rule: a gift is outside the donor’s estate for IHT if the donor survives seven years after making the gift. If the donor dies within that period, taper relief applies – 40% tax if death occurs within the first three years, dropping to 32% after three years, and decreasing each year until it reaches 0% at year seven. Using a £1 million London property as an example, Andy shows how substantial tax liabilities can arise when the donor dies early. He advises anyone considering large lifetime gifts to consider when the 7‑year clock starts and where they are on it, not just whether the gift can be made. The video ends with a call‑to‑action to follow him, and a promotion for his Dr. Sparks X‑ray workshop, inviting viewers to comment “X‑ray” for details.

Chapters

I'll show you something quickly. A GP friend of mine was gifted a London property by her grandfather. It sounds like fantastic news, except the gift became quickly a source of stress for her. You see, her grandfather was already around 90 years of age and had been promising her the property for years. Then she happened to read an early copy of my book, The Money Wise Doctor, and discovered the inheritance tax 7-year rule, you know, about the PET, potentially exempt transfer. And suddenly she had a question she hadn't even thought about. What happens if granddad doesn't survive 7 years after making this gift. Because when you make certain lifetime gifts, including property, they can be potentially exempt transfers if you survive 7 years after making the gift. And generally, the gift falls outside your estate for inheritance tax purposes. So your beneficiary may not have to pay up to 40% inheritance tax on it. But if one dies within those 7 years, there can still be an inheritance tax consequence. And that's where this little scale on the board matters. If tax is actually due on the gift and death occurs within the first 3 years, then the rate is 40%. If you survive 3 years, it drops to 32%, and it just keeps dropping. And by the time you get to year 7, then it's 0%. Now imagine we are talking about a million pounds London property. Suddenly this is no longer just an obscure tax rule. The amounts potentially exposed to inheritance tax can be substantial. So this is something important. If you or your family member are thinking of gifting a significant asset, think about not just can we give it away, also think about things like when does the 7-year clock start? And where are we on it? I hope you found that helpful. Follow for more. I'm running the Dr. Sparks X-ray workshop. If you comment X-ray, I'll send you the details.