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UK Inheritance tax | 23
UK IHT
planning for non-
UK residents
Effective planning is essential to minimise the
impact of this potentially substantial levy
by Susan Midha,
Partner, Private Client Department,
Adams & Remers Solicitors
R
aising tax on gifts or estates is
neither universal nor, in the
countries where it occurs, popu-
lar. To many, it seems to be an
unacceptable further levy on
assets which have already suffered
tax and many countries have abandoned the
idea. The UK, though, still clings to the concept
of Inheritance Tax (IHT) and it is likely to sur-
vive even the change of Government which is
expected to occur within the next year.
But what is it? And could it affect you? If you
have no connections of any sort with the UK, do
not live here and do not have any UK-sited prop-
erty (for example, land, or shares in UK compa-
nies) then you will be relieved to hear that the
tax is unlikely to affect you.
But if you have UK connections or invest-
ments, live here (or intend to come to the UK) or
have property here, you may find that some or all
of your assets are subject to IHT. And, as it is
levied at a flat rate, after allowances, of 40%, it
can seriously affect your family’s wealth.
It is important to bear in mind that the tax is
mis-named. It is not a tax on inheritance. Where
© Eric1513
www.investmentinternational.com June 2009 Investment International
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