How much is your property worth? Essentially it’s 100% tax free to pass to a spouse or charity, £340k tax free to most other people however if it is to a child or grandchild then this increases to £500k as long as your estate is worth less than £2million. If you give away the home and don’t die within 7 years then inheritance tax does not apply. Hope this helps!
@Joshua I’m a UK citizen and resident. Watched your video on setting up company in Dubai and living in UK. Would I be able to be in the Dubai two days of the week running my business and conducting meetings to satisfy the threshold of having all main parts of business taking place their for tax purposes?
Hey Joshua, I just watched your video and I must say that it was really informative and well-made. I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
You can pay later, but guess what? They charge! Cheaper to get a loan and pay it sometimes. They don't care. All they care is about is meeting targets and their next pay cheque. That's the UK all over.
Aren't you using the term ‘non-domiciled’ when you actually mean ‘non-resident’? Your domicile is where you come from. You can’t become a non-dom by leaving the UK - only a UK non-resident.
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Can you do a follow up video for passing on a property/house. Thanks for the info!
How much is your property worth? Essentially it’s 100% tax free to pass to a spouse or charity, £340k tax free to most other people however if it is to a child or grandchild then this increases to £500k as long as your estate is worth less than £2million.
If you give away the home and don’t die within 7 years then inheritance tax does not apply. Hope this helps!
Anything over those thresholds is taxed at 40%
Dont forget pension planning or Aims ISA and a bit insurance in trust
Absolutely valuable strategies
@Joshua I’m a UK citizen and resident. Watched your video on setting up company in Dubai and living in UK. Would I be able to be in the Dubai two days of the week running my business and conducting meetings to satisfy the threshold of having all main parts of business taking place their for tax purposes?
What about a Private Trust and not a Statutory Trust (i .e.) probate is irrelevant?
Capital gains tax complications when passing on property to a family member
What about a trading company. PLS do a video
How can I book a call with you?
www.jsmpartners.co.uk
How're you expected to pay inheritance tax before you've even sold the inherited property? There's no cash there yet. 🤔
The tax man/women would expect you take out a very costly bridging loan, secured on the property. Even less money you will inherit.
Hey Joshua, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
You can pay later, but guess what? They charge! Cheaper to get a loan and pay it sometimes. They don't care. All they care is about is meeting targets and their next pay cheque. That's the UK all over.
Aren't you using the term ‘non-domiciled’ when you actually mean ‘non-resident’? Your domicile is where you come from. You can’t become a non-dom by leaving the UK - only a UK non-resident.
Hello
I am sorry , I know a lot about IHT but you were too fast speaker ,ordinary punters will not make any sense
I dont think you have a clue, apart from trying to scare people.