Long term UK expats may face 'huge' UK tax charges

UK expats who have lived abroad for many years often remain UK-domiciled and therefore liable to UK Inheritance Tax (IHT), says Howard Bilton, UK barrister, chairman of The Sovereign Group. The rate of this tax might be considered penal. It is currently 40% on the total value of the estate of a deceased after the exemptions. It is an additional tax payable on capital accumulated during lifetime upon which tax has already been paid. Many UK nationals who have lived abroad long term may assume their liabilities to UK tax have ended. Probably they are no longer liable to UK income and ca...