How Can UK Asia Expats Legally

Avoid UK IHT   

  1. Gifts and PETs ( 7 years rule applies) – Transfers money outside of your estate
  2. Life Insurance – Pays the IHT payment at a discounted rate
  3. QNUPS – Immediately transfers money (Cash) outside of your estate
  4. QROPS – Immediately transfers UK (Pension) money outside of your estate

Gifts and PETs (7 years rule applies)

Any person can gift any amount of money to any other person, at any time and as often as they wish.

This also presents another fundamental problem:

  1. Once gifted you lose control of the money.

For example we all have heard of people and families falling out, breaking up and devoicing each other. Imagine gifting some money to a member of your family only for them to break up from your and take off with “Your Money” – this is an important example of the pit falls of gifting your assets to other people – you lose control of “YOUR” ASSETS and MONEY.

Life Insurance

In many cases Life insurance is the main vehicle to mitigate UK IHT liabilities. The main reasons are as follows:

  1. It is simple to understand, implement and it is “Clean”.
  2. Life Insurance is a tried and tested IHT mitigation vehicle.
  3. Used within a “Trust” structure HMRC and UK legislation fully recognise and approve Life Insurance as a UK IHT mitigation vehicle.
  4. You remain in control of ALL of your assets and money during your lifetime – it can be argued that this is “Crucial”.UK Inheritance Tax (IHT) Planning For UK British Expats Hong Kong

How Can UK Expats Legally Avoid UK IHT

Would you like to ask us a question or receive further information. Then please email us on our contact form, we will be pleased to answer any questions you may have.

This web page was written in 2015. For the latest information please download the latest FREE Expat British UK Pension Transfers QROPS GUIDE; QROPS information explained.

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