Am I a non-UK resident or non-UK domiciled (including deemed-domiciled)?
Do I own UK residential property in my own name?
Yes
If you own UK property in your own name you will already be liable.
All non-UK property is outside the scope of the new residential property IHT charge but note that it will be in scope if you have been resident under the new long-term resident rules.
Do I own UK residential property via an offshore company¹ or partnership?
No
You are not caught by the proposed changes as you are already liable.
Do you have life insurance in place or an alternative arrangement to meet a 40% charge on the value of the property over £325,000 on death?
Yes
You need take no action.
You should consider transferring the shares in a non-resident company which owns UK residential property into a
Bourse Protected Trust before 6th April 2017 (to avoid a 20% ingoing lifetime IHT charge) which will apply after 6th April 2017.
Note: the trust will continue after your death but will be liable to a 6% tax charge every 10 years and exit charges.
