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That's pretty standard inheritance tax planning, it's not really a surprise.
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I know this sort of thing leaves a bad taste in the mouth, but this sort of lifetime gifting is not a loophole. It's standard practice that is fully endorsed by hmrc. The whole "live 7 years from the date of the gift and pay no inheritance tax" rule is explicitly written into law. If you want to end it you'll have to find yourself a political party who plan to abolish the rules and vote for them. Getting angry at rich people for utilising a rule that benefits them isn't going to achieve anything.
aggi
jimmy_james
@EB
200K gift from Mumsy avoided 50K inheritance tax. He should resign the fucking filthy cunt