The UK inheritance tax take continues to set new records as it raked in £6bn for 2021. This 19% rise translates to almost £1bn more taxes collected in a single year, says Jason Porter, director at Blevins Franks Financial Management. But how might this affect British expats who have lived abroad for many years? UK inheritance tax is payable on the worldwide estate of a UK-domiciled person who has passed away, as well as on gifts made by UK-domiciled people within the seven years prior to death. UK assets are always liable to inheritance tax, regardless of the domicile of the owner. Th...
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