http://wealthmanagementhongkong.com/ Wealth Management Hong Kong UK Inheritance Tax (IHT) Planning For British Expats Hong Kong Why would anybody subject their “Life’s Work” to liquidation when they can secure and continue their life’s work today….providing for the ongoing financial security of their family. The Good News As a UK Expat in Hong Kong you probably have removed yourself from the punitive UK Income Tax system; and after 5 years you probably have removed yourself from any liability to UK Capital Gains Tax. The Bad News As a UK Expat in Hong Kong you almost certainly will not have removed yourself from UK Inheritance Tax – NO MATTER HOW LONG YOU HAVE NOT RESIDED IN THE UK. This is because IHT liability is established on your “Domicile” and once a UK Domicile as far as Her Majesties Revenue and Customs (HMRC) are concerned; you almost certainly will remain a UK Domicile. This means that on your death; any net assets above the “Nil rate band” (max 650,000 GBP) will be taxed by HMRC at 40%. The Very Good News UK Inheritance Tax is a voluntary Tax and in almost all circumstances you can avoid paying it. To find out how please email info@wealthmanagementhongkong.asia and we will forward to you our UK IHT Guide FREE of charge with no obligation. Inheritance, Tax, IHT, Wealth, Management, Hong Kong, UK, British, Expats, planning