Inheritance tax on Joint tenancy for BLT/Commercial property

CLAPTON

further to seniorsam post, if your parent were to die abroad (i.e. not longer resident in the UK) then the IHT issues etc would be different again

Typhoon2000

OK! A far more complicated issue. I do not know the details of their assests in Singapore. Other than they have a flat (with a mortgage) and cash in the bank. They are Singapore citizens with UK permanent residency. I am a UK citizen. I imagine it is their intention to move and live in Singapore before they pass on. There is no inheritance or capital gains tax in Singapore.

John_Pierpoint

There was a very rich man called Charlie Clore (he owned a significant amount of the British shoe supply business).
He tried to do a bunk to a tax haven, but left assets in the UK.
You might like to Google for him.

http://www.independent.co.uk/news/business/sme/easy-come-easy-grow-754865.html

When you have understood all the rules, please come back and explain them to the rest of us.

chrismac1

Personally, although there have been good posts here, I think you'd be nuts to rely on this site given the money involved here and the potential complexities. Find someone who has decent knowledge in this area, get the will drawn up and good advice on the other issues and make sure it's someone who is qualified and covered by a good PII scheme.

And in my view it's not just death you should build into the picture. Long term illness which results in a care home admission is another aspect not mentioned so far.