Inheritance Tax is a capital tax chargeable on transfers of assets made during your lifetime, or the value of your estate on your death.
IHT will apply to you if you are either:
If you are UK domiciled or deemed domiciled in the UK, all of your worldwide assets will be exposed to IHT. However, if you are domiciled outside the UK, IHT will only apply to your assets situated in the UK.
There are various exemptions and reliefs available that, with careful planning, can minimise your potential exposure to IHT.
In conjunction with our UK and International tax return services, if you own or are considering acquiring UK situated assets we can help.
Our IHT planning will include a consideration of how this might interact with your home country estate and capital tax planning and will help you devise a plan that minimises your IHT exposure by advising you:
If you would like any further information, or to discuss your specific circumstances, please call or email Alison Asher.