IHTM14432 - Lifetime transfers: gifts with reservation (GWRs): insurance policies: normal out of income exemption on regular premiums

Gifts made on or after 18 March 1986 which are covered by normal expenditure out of income exemption (IHTM14231) may be chargeable as GWRs despite that exemption. The exemption is not one of the stated exempt transfers which cannot be GWRs (IHTM14318).