UK & Cross Border Estates - Top Tips & Practical Guidance for Private Client Professionals

Introduction

An area of UK law which is often overlooked for its complexity is cross-border estate administration.

With an ever-increasing number of UK individuals owning assets overseas and, likewise, non-UK individuals owning assets in the UK it is now more important than ever to understand the practicalities behind administering a cross-border estate from a UK tax, compliance, and legal perspective.

To complicate matters further, the UK legal regimes relating to domicile and tax residency are always evolving and these rules have a huge impact on the taxation of a UK estate.

If an individual lives in the UK but spends time overseas or if a non-UK person has spent a notable amount of time in the UK, it is always worth giving these rules a very careful consideration so that you can ensure that you understand the tax liabilities involved and avoid unnecessary interest and penalties being incurred.

This new webinar will examine the UK domicile regime and provide practical tips for a UK lawyer dealing with estates involving more than one jurisdiction.

What You Will Learn

This webinar will cover the following:

• Top tips for dealing with cross-border estates from the UK
• What does the concept of ‘domicile’ really mean?
• How does statutory domicile differ from the common law concept?
• If the deceased made a will, are we likely to recognise this in the UK?
• What is a choice of law clause?
• How does the UK perceive the EU Succession Regulations?
• How does the estate administration work in practice where there is a will?
• What is different if the deceased died intestate?
• To what extent will the estate be liable to UK inheritance tax?
• Is there any UK inheritance tax and/or capital gains tax planning which can be carried out?
• How does the UK assess a claim for unilateral relief?
• What double tax treaties does the UK have in respect of UK inheritance tax?What is the tax status of the personal representative(s)? What are the relevant compliance rules relating to UK estate administration?

This webinar was recorded on 3rd February 2023