Living outside the UK

What happens when someone dies?

When someone living abroad dies, the rules for paying Inheritance Tax (IHT) usually depend on:

• How long they lived abroad
• Whether their assets (property, money and possessions) are in the UK or abroad
• If their assets in the UK are‘excluded assets’
• If their assets were put into a trust Continue reading “Living outside the UK”

Gifts

Small gifts that don’t create an Inheritance Tax liability

HM Revenue & Customs allows you to make a number of small gifts each year without creating an Inheritance Tax liability. Remember, each person has their own allowance, so the amount can be doubled if each spouse or registered civil partner uses their allowances. Continue reading “Gifts”