Property Inheritance Tax Saving for Expats
Sam Orgill of ProACT Partnership with Tax Saving Tips for Expats for Overseas Property & Investment
Expat Investors can make more tax savings following changes in the UK and Cyprus Taxes.
Tax Savings can extend to inheritance following changes to Wills and Inheritance tax rates in the UK.
Inheritance Tax Changes
UK Inheritance tax remains at 40%. Allowance for married couple, main residence, is increasing to 500,000 per person over 5 years. Meanwhile, changes to tax disclosure of capital and estates in the coming year mean that doing nothing to avoid 40% UK inheritance tax on Cyprus property will not work. Opening up Cyprus property to UK Inheritance tax on death.
Cyprus inheritance tax is 0%. If lifetime gifts of Cyprus Property are made then you can save 40% Inheritance Tax. This works while keeping you and the family in control and allows the bonus of avoiding in full the cost and delay of probate.
Tax Saving Tip: Consider gifting Cyprus property to avoid UK inheritance tax, and probate cost and delay with ProACT Expatriate Advice
Free Review – Tax, Wills, Inheritance, Property
Don't Wait Until its too late. Changes to laws of succession in Cyprus, high and slow probate costs, exchange of information on capital assets, overseas inheritance tax costs, means its time to look at different ways to protect your Cyprus Property Assets from Inheritance Tax for your Family.
ProACT offer a Free Review of your Tax, Savings, Wills, Inheritance and Property issues for Expats living and working abroad. Contact us to book a Free review
Contact us to book a Free review. CONTACT US
Read more on our website www.proactpartnership.com/blog
Sam Orgill ProACT Partnership Expatriate Advice
Tel +357 26 819 424 CONTACT US