Non UK domiciliaries are in a privileged position when it comes to UK Inheritance tax planning. So long as they can retain their non UK domicile status they can avoid UK inheritance tax on their overseas estate. Of course it is not quite this simple and there are a lot of obstacles to them benefiting from these rules.
In this book we look at how and when non UK domiciliaries can take advantage of this very attractive tax status to reduce UK inheritance tax.
What is covered in the book?
Subjects covered include:What is domicile and why is it important?The 3 main types of domicileHow to establish an overseas domicile and lose your UK domicilePractical steps and paperwork to be completedRecent case law on domicileUK immigrants and emigrants and their domicile statusWhere assets are located and why it's importantThe deemed domicile rulesWhen you need to be non resident for 4 or more years to lose UK domicileHow the £325,000 non dom spouse exemption (formerly £55,000) works including examplesThe new election from 2013 that allows non UK domiciled spouse to "opt in" for UK domicile status...and when you should make the electionHow you can use an Estate tax treaty to reduce your inheritance tax billUsing estate tax treaties to avoid the deemed domicile rulesReview of the UK-US Inheritance tax/Estate tax treatyInheritance tax planning for US citizens living in the UK Investing in UK Property: A case studyWhen and how you can use offshore companies to own UK assets and reduce inheritance taxReview of the main anti avoidance rules that apply to non UK domiciliaries wanting to live in company owned propertiesHow should you purchase UK property as a non-resident, non UK domiciliary given the 2015 changes?When and how to use a Private Trust CompanyUsing an Excluded Property TrustWhen to use an Excluded Property TrustHow the Excluded Property Trust would work in practice