Mastering UK Inheritance Tax Strategies and Securing Your Legacy

Unlock the secrets of navigating UK inheritance tax laws with our illuminating chat featuring international tax advisor Dmitry Zapol. If the mere thought of estate planning sends shivers down your spine, fear not—we’ve got you covered. Together, we dissect the taxing details of owning UK assets and the tax repercussions for those considering making Britain their home. Dmitry's expertise shines as he explains the pivotal role of domicile status and maps out the legislative landscape that's evolving to favour residence-based taxation after a decade of living in the UK. Business owners and investors, pay attention—we also unravel the complexities of business property relief and how recent changes impact offshore entities with property in the UK, not to mention the effect of loans secured on UK properties on your inheritance tax bill.  

Strap in as we navigate the labyrinth of mitigating inheritance tax liabilities in the second segment of our discourse. Here's where strategy meets savvy planning, with a tour through the world of excluded assets and trusts. For entrepreneurs, we highlight how holding a UK business through a foreign company could shield you from hefty taxes, though this is a dance with domicile rules. Dmitry expertly guides us through the nuances of excluded property trusts, the potential pitfalls of loans, and the delicate issues with the inheritance tax. Plus, we clarify the often-misunderstood spousal exemption and delve into the seven-year gifting rule that could reconfigure your estate’s tax valuation. Tune in for a masterclass in securing your legacy with precision and foresight.