IHTM42601 - Foreign element: practice
Foreign assets
From 6 April 2025, for inheritance tax purposes, domicile is replaced by long-term UK residence听and you can find details of these rules 补迟听IHTM47000.听听
Whether foreign assets in a trust are excluded property depends upon the long-term UK residence status of the settlor, or in some cases, their domicile听(see IHTM47050).听For qualifying interest in possession settlements (IHTM16061) foreign settled property is only excluded property at times on or after 6 April 2025 if the life tenant is also not a long-term UK resident (IHTM47051).听
Long-term UK residence/Domicile听
If the taxpayer claims that the trust is exempt or partly exempt because of the long-term UK residence/domicile听of the settlor, review the appropriate schedule听in the account and refer to바카라 사이트疘HT바카라 사이트疶echnical바카라 사이트痑s appropriate.바카라 사이트赌�(IHTM10685)听
听
The next page gives some details of the impact of not being long-term UK resident听or having an overseas domicile. General long-term UK residence details are at the long-term UK residence section of this manual (IHTM47000).听General domicile听details are at the domicile听section of this manual.바카라 사이트�(IHTM13000)听
Avoidance听
The use of foreign trusts by individuals听who are long-term UK resident (from 6 April 2025) or were听domiciled in the UK听(before 6 April 2025) may be an indication听of avoidance.바카라 사이트�