Inheritance Tax IHT Planning  UK British Asia Expats Wealth Management

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Domicile: Introduction

The law of domicile is of fundamental importance to Inheritance Tax (IHT) currently chargeable at 40%. The mechanics of domicile ensure that you have one, and only one, domicile

At birth you are assigned a domicile of origin which is usually dependent upon the domicile of one of your parents. For example if your parents were married when you were born your domicile of origin is the same as your father’s current domicile. If not then you take your mother’s current domicile.

Persons treated as domiciled in United Kingdom.

[1975 s.45(1); 1984 Sch.21 para.4.] 267. – (1) A person not domiciled in the United Kingdom at any time (in this section referred to as “the relevant time”) shall be treated for the purposes of this Act as domiciled in the United Kingdom (and not elsewhere) at the relevant time if –(a) he was domiciled in the United Kingdom within the three years immediately preceding the relevant time, or(b) he was resident in the United Kingdom in not less than seventeen of the twenty years of assessment ending with the year of assessment in which the relevant time falls.

 

So if your parents (particularly your Father) where born in the UK then you will be deemed to be UK Domiciled and liable to UK IHT.

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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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