The new Labour government is gearing up to make a major move on inheritance tax (IHT), and for British expats, this could be a monumental shift. What’s Changing? The government is planning to overhaul the rules around who gets hit with inheritance tax. Right now, your exposure to UK IHT is closely tied to your domicile – the country that HMRC deems to be your permanent home. This means that even if you’ve been enjoying the expat life…
In his budget last week, UK Chancellor Jeremy Hunt, announced his intention to move to a residence-based regime for Inheritance Tax (IHT). The question is how will this affect us as expats?