Passing on wealth that has become
subject to UK inheritance tax.
Since April 2025, UK residence rather than domicile determines who falls within the scope of inheritance tax. For people long settled here, assets held anywhere in the world may now form part of their estate.
Working with private clients since the 1980's
Regulated advice through Wilcox Young
Working alongside your existing advisers
The situation
Two changes, two years apart
April 2025
Domicile was replaced by a residence test. Ten of the last twenty tax years of UK residence brings worldwide assets within scope, charged at 40% above the available allowances.
April 2027
Unused pension funds and most lump sum death benefits will form part of the estate. Pensions left undrawn for planning purposes will no longer sit outside it.
On leaving the UK
Exposure does not end withresidence. It continues for a periodof between three and ten years,depending on how long you wereresident here.
Our approach
What we look for in an arrangement.
A considerable has been sold in this area, much of it not holding. Over 70 years not one of our solutions has failed to deliver what was promised.
Commercial justification
Each element is appropriate and beneficial to the investor in its own right. Nothing is entered into solely to produce a tax result.
Established in Law
Statutory reliefs of longstanding and vehicles that are well understood, rather than novel readings of legislation.
UK investor protection
Products are selected to meet UK financial services compliance requirements. Advice is given through Willcox Young.
Your advisers retained
Your wealth manager continues to manage the portfolio. Your solicitor and accountant remain involved.
An income while you live
Drawn from your own capital, with a substantial part of it not subject to UK income tax.
Outcomes
What our solutions can achieve
The detail depends entirely on your circumstances. In general terms, three things are possible.
Relief on death
A significant proportion of the value protected by a statutory relief in place since 1976.
Continuity
The portfolio continues to be managed by the people who manage it now.