IHT on gift from non dom parent

[andy4851]

Hi

Cypriot parent moved back to Cyprus permanently on 1 May 2008 after residing in UK for 40 years. At the time he and his wife sold all UK properties and businesses. Moved all UK assets to Cyprus and have not been back to the UK since then.

Now has no UK assets whatsoever.

Wants to gift all of their held cash in Cyprus to UK res/dom son now.

Will any of this gift be liable for IHT at any point?

Many thanks for any guidance given

Kind regards

Andy

[maths]

Assuming parents not domiciled in the UK then gifts of non-UK assets (eg bank account monies in Cyprus) will not give rise to an IHT charge.

If parents UK domiciled then potential IHT charge arises.

[andy4851]

Thanks maths

Parents left the UK and went back to Cyprus in 2008 and originally born in Cyprus.

Thanks very much for your reply