Finance (No 2) Act 2017 introduced significant changes to the taxation of foreign domiciliaries. In TAXguide 08/19 ICAEW, STEP, the CIOT and the Law Society have published questions and draft suggested answers together with comments from HMRC, to highlight and consider areas of uncertainty in the statutory provisions covering the extension of inheritance tax (IHT) to overseas property representing UK residential property interests (Sch A1).
This guide is one of four outlining questions and draft suggested answers prepared by committee members of ICAEW, STEP, CIOT and LSEW to highlight and consider areas of uncertainty in the statutory provisions introduced by Finance Act (No 2) Act 2017 with effect from 6 April 2017. The others are:
This guide was originally published as TAXguide 13/18 before the HMRC comments were received.