The application of Australian Capital Gains Tax (CGT) and UK Inheritance Tax (IHT) can lead to an aggregate tax rate of 87% following the death of a loved one. Such a high tax rate should cause with clients who have lived in both jurisdictions to obtain specialist advice before they die to implement effective tax planning. (more…)
UK Death Taxes
UK Inheritance Tax: Could you be affected?
Fortunately in Australia we do not have inheritance tax. But you may be surprised to learn that if you die in Australia holding UK situated assets, your estate still could be caught by UK inheritance tax. This article is the first in a series about UK inheritance tax.