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Where Taxpayers and Advisers Meet

Iht non domicile child

kanrent
Posts:119
Joined:Tue Dec 16, 2014 8:20 am
Iht non domicile child

Postby kanrent » Sat Mar 16, 2019 8:59 am

Hi I'm a non resident British citizen and domicile in the UK.
My daughter is a British citizen but not domicile and not resident in the uk
How much can I leave her in my will without any IHT

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Iht non domicile child

Postby maths » Sat Mar 16, 2019 8:57 pm

You could leave her £325,000 or possibly £475,000/£500,000 if your estate included a residence (eg a property in which you live).

I have ignored any possible transferable nil rate band/residence nil rate band which may be transferable to you (should you have a wife who predeceased you).

kanrent
Posts:119
Joined:Tue Dec 16, 2014 8:20 am

Re: Iht non domicile child

Postby kanrent » Sun Mar 17, 2019 7:10 am

My estate includes my house valued at about £400,000 and £200,000 in cash
Can you tell me what would be the IHT

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Iht non domicile child

Postby maths » Sun Mar 17, 2019 7:50 pm

House plus cash equals 600k.

Of this, allowances of 325k (nil rate band) plus 150k (residence nil rate band) available.

IHT therefore 40% on [600k less 475k] ie 50k.


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