The effect of giant magnetoimpedance in magnetic structure with inhomogeneous electric current distribution is studied. A special design reduces the magnitude of the intrinsic magnetic field outside the structure. The magnetoimpedance of such a planar structure made of magnetically soft material with radial current distribution has been investigated both theoretically and experimentally. The theoretical evaluations show a strong variation of the impedance of the structure with the frequency and the permeability value of the material. The results of calculations are qualitatively confirmed by experimental data for model samples.