The basis on which IHT is charged will change on 6 April 2025. Prior to this date, IHT is charged on individuals who are domiciled in the UK, on their worldwide property.
Those who are not domiciled in the UK are only subject to inheritance tax on transfers of assets which are situated in the UK (with some minor exceptions detailed at I9.322–I9.330B). See Division I9.4 for the situs of assets.
Assets situated outside of the UK owned by a non-domiciled individual are 'excluded property' (subject to an exception for the value of UK residential property owned via an overseas entity). Excluded property is outside the scope of
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Web page updated on 17 Mar 2025 17:10