In the second of our Short guide to series, which will examine different trusts and how they can be used in financial planning, Paul Kennedy offers guidance on IHT and excluded property trusts for non-UK domiciles
When people speak of War and Peace, they usually talk about the book's size (around 1,500 pages). I am afraid publications on offshore and foreign tax planning are equally voluminous. All of this can scare people away, but within this maze are some very simple inheritance tax (IHT) planning strategies. At its basic level, the excluded property trust (ETP), is a case in point. The trust is for the non-UK-domiciled only. Do not set one up or buy a 'second-hand' one if you are UK domiciled. You should be aware of the basic IHT rules for the non-domiciled; in short, the non-domiciliary avoi...
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