How Can Someone be Treated as a UK Resident for Tax Purpose?
The article explains the significance of residential status for tax liability in the UK, detailing the Automatic Overseas Tests, Automatic UK Tests, the Sufficient Ties Test, and considerations for split years in determining an individual's tax residency.
Top 10 Tips for Avoiding Inheritance Tax in UK
The article discusses various strategies, including lifetime gifts, spousal transfers, exemptions, and the Residence Nil Rate Band, to minimize inheritance tax implications for those planning to transfer their estates to children.
Inheritance Tax in UK – A Complete Guide
Inheritance tax, a substantial 40% levy on estate transfers after death, poses financial challenges for beneficiaries. UK residents face it globally, non-residents on UK properties. Strategic planning with gifts, property transfers, and business reliefs can ease the burden, emphasizing the...
