Precious Assets - Protect Them Will
Sam Orgill of ProACT Expatriate Advice discusses one of life's certainties and the Benefits of Making a Will
Inheritance tax is the last tax return you need to make and can be expensive. With planning taxes of 40% or more can be saved for the family. How do you do that?
What is included? Inheritance tax is charged on all the assets you own or have a share of. This can include; property in Cyprus, UK or worldwide; business value; savings and investment; pensions values; vehicles; and anything else of value in your legal possession at your death.
Your world wide assets are included. That is what you own in Cyprus and elsewhere. Crucially you are assessed for inheritance tax in each country you have assets in, plus the country... Read more.
Willing things to Change…
Sam Orgill www.proactpartnership.com highlights UK Budget Changes require new approach to Wills and Property Investment for Expats. It’s time to review or make a will
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The UK post-election Budget introduced , in theory a 1 million pound Inheritance Tax allowance for UK Domiciled nationals. But only those with the right assets, and the right family conditions, can benefit. Expats with Property or investments abroad are still subject to the 40% Inheritance Tax Rate on death.
The UK has one of the highest Inheritance tax rates in the world, outstripping France, Japan and Belgium. While the headlines sound and feel good the reality can still be expensive.
