Inheritance Tax If you Emigrate

Grumpy_chap

HUMBUG said:

I would like the option of leaving my money sometime in the future to whoever I wish without the government taking another extra 40% of my savings/investments . All of which has been accrued after income tax on my earnings and taxable interest on my savings.

Not this part:

HUMBUG said:

and pension 

What reason is there to have all these assets accrued and then not enjoy them?  Buy a sports car.  Go on luxury holiday.  Enjoy fine dining.  Take up sport.  Buy a yacht.  Just think - whatever you spend the money on will have a 40% discount compared to not spending it...

Albermarle

2. Giving at least 10% of my estate to charity in my WILL.
3. Spend my savings and investments , maybe even cash in & spend my SIPP before I croak (including stumping up for private health insurance).
4. Emigrate to another country that doesn't have IHT (ie. like Portugal) 

Regarding point 2)
Anything you give to charity, in your lifetime or in your will, will not be counted for IHT purposes.
Separately if you leave at least 10% of your estate that is liable for IHT,( so the amount above your nil rate band)  then the tax rate on the remainder is reduced to 36%.

Point 3) seems like a good idea. As well as enjoying yourself now, having some funds behind you when you are older can also be useful. 

Point 4 - If you actually wanted to emigrate, then could be a good idea. However if you do not fancy living out your days in a foreign country, then it would be a rather drastic move to avoid tax payable after you were dead.