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Tony Tax
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 15902
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Sorry the chat box disappeared. I am wondering if I need to

Customer Question

sorry the chat box disappeared. I am wondering if I need to pay inheritance tax as well in the UK after it has been taxed in the Netherlands (40%). Also after the inheritance tax I will have those assets in the netherlands, will these be taxed in the UK going forward as well?
Submitted: 1 year ago.
Category: UK Tax
Expert:  Tony Tax replied 1 year ago.


I cannot see your original question if there was another one. Can you tell me what that was please.

Customer: replied 1 year ago.
Hi TonyMy uncle died in the Netherlands and I am Dutch too but live in the UK. There is an inheritance tax of 40% in the Netherlands which my sister and I need to pay. I like to know
- if I need to pay inheritance tax in the UK too and if so how?
- if I need to pay tax in the UK on those assets in the Netherlands going forward on an annual basis?Many Thanks
Expert:  Tony Tax replied 1 year ago.


Recipients of legacies in the UK don't generally pay Inheritance Tax on them. Any IHT is usually paid out of the assets of the deceased esate with the balance being paid to the named beneficiaries. You don't need to report your inheritance to the UK tax authorities but you should keep any paperwork you have so that you can prove where the money came friom if you are asked. In the UK, this type of tax should be called Estate Tax because the name Inheritance Tax infers a tax liability for the receipient. Take a look here for information on IHT.

As you are non-UK domiciled, you have the choice as to what you pay tax on in the UK. You can choose to pay tax on your worldwide income with credit being given for foreign tax paid on the same income or you can choose to pay UK tax only on foreign income you bribng into the UK as well as on your UK income. This is called the remittance basis of assessment and you can read about it in section 9 here.

I hope this helps but let me know if you have any further questions.

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