Inheritance Tax – a guide for lay people

Inheritance Tax – a guide for lay people

Speaker:

Jason Pearce, Head of Technical Sales, Hong Kong & North East Asia, Quilter International

 

Every day in the UK, on average £220 million of cash and assets are inherited1.  The Office for Budget Responsibility forecast that in the current year HMRC will collect £5.3 billion2 in Inheritance Tax (IHT).

IHT has been around, in various forms, since the 17th century.  It is one of the most complicated and unpopular taxes; there were no changes announced to IHT in the 2020 Budget.

IHT applies to all UK-based assets, including real estate, regardless of the nationality or residence of the owner.  UK-domiciled people pay IHT on their worldwide assets.  UK domiciles who have spent many years outside the UK sometimes think that they have lost their domicile, but this is much trickier than is often thought, and is easily regained.

The good news is that if planning is started early enough, there are many legal ways of reducing an IHT bill.  In this seminar we will explain how domicile works (including how it can be changed), and the tried and tested methods of mitigating IHT liability.  

Details on how to join this webinar will be sent via email 2 hours before the webinar start time.

Sources:
1. Calculate based on the figure from Inheritance Tax Statistics 2016-17, HM Revenue & Customs that the gross capital value (the total sum of the value of assets) of estates was £80.1 billion in 2016-17
2. https://obr.uk/forecasts-in-depth/tax-by-tax-spend-by-spend/inheritance-tax/

 

 

About the speaker

Jason was born in Gloucestershire and educated at the universities of Cardiff and Oxford. He has worked in financial services for over 20 years, beginning at Legal & General where he worked with IFAs in Central London. He then trained as a pension specialist with Axa, Sun Life, working with employee benefit consultants and national IFAs.  He has joined Quilter International close to 20 years. He first started with Skandia in 2003 and then the company rebranded to Old Mutual International in 2014 and Quilter International in 2020. 

He holds the Chartered Insurance Institute’s Advanced Financial Planning Certificate with specialist qualifications in UK personal & corporate pensions.  He also holds the STEP Advanced Certificate in UK Tax for international clients. Jason specialises in providing technical support on pensions, trust planning and legacy planning for expatriates and internationally mobile clients.

 

 Pricing

  • Member: Free of charge
  • Non-Member: HK$140

 

Terms & Conditions

  • Reservations in advance are required. Please consider your booking confirmed unless notified otherwise.
  • Cancellations must be made in writing 24 hours prior to the event. No shows will be charged.
  • This event is closed to the media.
  • The event will be cancelled if the No.8 Typhoon signal or the Black Rain Storm warning is in force.
  • By attending this event, you agree to be photographed and/or filmed and give permission to use your likeness in promotional and/or marketing materials.
  • For further information please email yammie@britcham.com
  • All payments for this event need to be settled by credit card through PayPal. Please note you do not need a PayPal account to complete payment.
When
4/16/2020 12:30 PM - 1:30 PM
China Standard Time
Where
Webinar

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