Hi Keith, thanks for your help, but I didn't feel you answered my question, maybe I wasn't clear enough.
I am the executor of the will. My father lived and died in Hong Kong and the grant of probate was issued in HK and he was domiciled there.
Therefore I need to know if the estate is liable to pay any UK inheritance tax, since under the laws of Hong Kong, none is due
Hope you managed to get some lunch
There are NO UK assets to speak of, just money from a savings account and investment fund held off shore in the Isle of Man - so I assume those are exempt?
Its an Investment Fund held with Royal Skandia, arranged through a broker in HK
NB; my father had not lived in the UK since 1974, had no UK assets, he was domiciled in HK
HMRC's Inheritance Tax Toolkit includes the following gem:
'The Channel Islands and the Isle of Man are considered outside the United Kingdom (UK) for Inheritance Tax purposes.'
It would thus appear that the IOM fund does not comprise part of your Father's UK Estate as he was not domiciled or resident in the UK, leaving the savings account only. If the sum involved is small HMRC may not require you to complete an IT return at all.
I would be inclined to check with them for starters, might save a lot of hassle and form filling. At this stage a return appears to be an exercise in financial futility!