Expats need to beware of IHT liability

UK expatriates may be unwittingly storing up inheritance tax problems, even when they have been resident outside the UK for a number of years, Scottish Equitable International has warned. Research carried out with IFAs in Spain has shown that many expatriates may be unaware that they still have UK inheritance tax (IHT) liabilities. UK inheritance tax is based on a person's domicile rather than residence, that is, where an individual's permanent residence is judged to be, rather than where they actually reside. Margaret Jago, a personal investment technical adviser at Scottish Equitable...