Tax position on inheritance from abroad.

John_Pierpoint

John_Pierpoint wrote: »

Perhaps HH is in his /her dotage ?:D

Probably not possible to do an instrument of variation in the foreign jurisdiction?

Hoof_Hearted wrote: »

Excuse me! At least I know what I mean!

That was sort of intended as a joke - you did not tell us how old you are.

I'm a pensioner, it would be fairly pointless to leave me a six figure sum.
If I pop my clogs cleanly the tax man would get 40% of it.
If I linger on for years "Dolally" in a care home, then the Local Authority will get it.

So, were the money left in an English will, I would write an instrument of variation to pass the money where it would be more valuable.

Hoof_Hearted

John_Pierpoint wrote: »

That was sort of intended as a joke - you did not tell us how old you are.

I'm a pensioner, it would be fairly pointless to leave me a six figure sum.
If I pop my clogs cleanly the tax man would get 40% of it.
If I linger on for years "Dolally" in a care home, then the Local Authority will get it.

So, were the money left in an English will, I would write an instrument of variation to pass the money where it would be more valuable.

Thanks -- I took it as a joke.

You make a fair point. Do I take it that an instrument of variation would say something like -- I'm waiving rights to the inheritance so give it to my kids.

John_Pierpoint

Yes something like that but usually a bit more formally and expensively as it has to knitted into the structure of the will