A liability to foreign taxation must be considered separately because apart from any double taxation agreement and the matters mentioned below, such a liability is not enforceable in this country1 (see A4.602) and therefore is only available to reduce the value of property outside the UK2.
A statutory credit is however allowed against IHT for overseas tax where:
- Ìý
•ÌýÌýÌýÌý the tax is of a similar character to IHT or chargeable on or by reference to death or gift inter vivos in respect of certain property, and
- Ìý
•ÌýÌýÌýÌý IHT is chargeable on the same disposition or event and is also attributable to the value of the same property3 — see F4.104 for
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 16:19