Hi there,
I am a UK Resident, but Mum, Dad & sister are all NZ residents. My sister lives with my Mum & Dad and will continue to do so.
We are trying to work out what happens to their estate (eg. their house) when they pass away.
I understand that, were we to sell the property following their deaths and send my share of the proceeds from NZ to the UK, that that would not attract any inheritance tax.
However, the complication is that my sister would like to stay in my Mum & Dad's house, potentially for years after their deaths.
Are there any UK tax implications to holding onto the house for several years after their deaths? Or will it still not attract any inheritance tax no matter how long my sister holds on to the house?
Cheers
Sam
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