Alyssa Haggarty and Claire Weeks (Maurice Turnor Gardner) consider the status of the so-called ‘revenue rule’ and the options available to HMRC to seek assistance in the collection of tax abroad.
Question
My client has been resident in the UK for ten years but is worried about the rapid pace of tax reform in the UK and disconcerted by the endless speculation as to whether a wealth tax mansion tax or exit tax could be
introduced. He therefore plans to leave the UK and assumes that UK IHT cannot possibly be enforced against his estate thereafter.
Answer
Your client is going to be very disappointed…
How long is the IHT tail?
Readers will be familiar with the recent changes to the UK’s inheritance tax rules. Liability to IHT is now determined with reference to an individual’s long-term residence (LTR) status. Once acquired LTR status remains until an individual has...
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Alyssa Haggarty and Claire Weeks (Maurice Turnor Gardner) consider the status of the so-called ‘revenue rule’ and the options available to HMRC to seek assistance in the collection of tax abroad.
Question
My client has been resident in the UK for ten years but is worried about the rapid pace of tax reform in the UK and disconcerted by the endless speculation as to whether a wealth tax mansion tax or exit tax could be
introduced. He therefore plans to leave the UK and assumes that UK IHT cannot possibly be enforced against his estate thereafter.
Answer
Your client is going to be very disappointed…
How long is the IHT tail?
Readers will be familiar with the recent changes to the UK’s inheritance tax rules. Liability to IHT is now determined with reference to an individual’s long-term residence (LTR) status. Once acquired LTR status remains until an individual has...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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