Advisers may need to do some number crunching with their clients to assess the impact of earlier gifts on future gifting plans.

The best option for the client will be influenced by a whole range of factors, including tax on the estate at death, the life expectancy of the donor at the time of making a gift, the potential tax on the gifts, the availability of "taper" relief that can reduce the tax paid on gifts made more than three years before death and the availability of nil-rate bands, including transferable values from a previously deceased spouse or civil partner. 

All of this will require careful calculation. 

But navigating these to deliver the best possible outcome for clients is where advisers really excel. Ultimately, this is just one more opportunity to demonstrate to clients the real value of advice. 

Dave Downie is technical manager at abrdn