Improvement In Uk Iht Foreign Spouse Rules

[fletchsmile]

For those of you subject to UK Inhertitance Tax (IHT), and with a Thai spouse, there are some welcome changes coming.

Previously if subject to UK IHT and married to someone else who is also UK domiciled you each had a nil band of GBP 325,000 before tax was payable.

If you had a foreign (Thai) spouse though, the cap was only GBP 55,000 on the foreign spouse which made only 325k + 55 k = 380k vs two UK people of 650k.

Following the recent budget a few days ago, it looks like this will now be equalised

http://www.hm-treasury.gov.uk/d/inheritance_tax_election_to_be_treated_as_domiciled_in_the_uk.pdf

http://www.inheritance-tax-secrets.co.uk/foreign-spouse-iht-improvements/

http://www.devere-group.com/blog/changes-to-foreign-spouse-iht-rules/

[Hedghog]

Who cares who gets what when I'm dead.

Let them squabble.

[fletchsmile]

Who cares who gets what when I'm dead.

Let them squabble.

Sorry I was intending the post for those capable of forming adult relationships.

I guess the world can breathe a sigh of relief then if you haven't managed to procreate