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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 10816
Experience:  FCCA FCMA CGMA ACIS
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My father has passed away (lived and Swiss Citizen) and has

Customer Question

My father has passed away (lived and Swiss Citizen) and has inherited 1/4 of a property to me (Swiss Citizen, living in UK). Do I need to file and pay inherit taxes?
JA: Have you talked to a lawyer about this? In which country do you live? If different, which country is your legal question related to?
Customer: I live in the UK and have talked to a Swiss lawyer.
JA: What steps have you taken so far?
Customer: Swiss inheritance lawyer is preparing inheritance but it depends if I will accept it due to tax reason situation in the UK, which I try to figure out.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: I just need to get that one question answered in order to know what needs to be done further
Submitted: 5 days ago.
Category: Tax
Customer: replied 5 days ago.
Property is located in Switzerland.
Customer: replied 5 days ago.
Side Note: I am a UK resident, not a UK citizen.
Expert:  bigduckontax replied 5 days ago.

UK Inheritance Tax (IHT) is poayable by the deceased's administratore or executors and is paid before distribution. The recipient is not liable to IHT at all. In Some foreign jurisdictions the beneficiary must pay the IHT, or rather its local equivalent, before receiving legacies. A Swiss ciutizen non resident in the UK would only be liable to UK IHT on UK property only.

Customer: replied 5 days ago.
Hello thank you for your reply.
In Switzerland the person receiving the inheritance has to pay taxes. It is different from the UK but this is not my concern.
My concern is as I am a Swiss Passport holder and a UK resident (living in the UK but do am not a UK citizen) if property inheritance taxes will have to be paid in the UK for my share of inheritance? Could you please help me here?
Expert:  bigduckontax replied 5 days ago.

I have already advised that a Swiss ciutizen non resident in the UK would only be liable to UK IHT on UK property only and then only if it exceded 325K. Your parent dying in Switzerland would not expose neither you or them to UK IHT.

Customer: replied 5 days ago.
Thank you very much.
Expert:  bigduckontax replied 5 days ago.

Delighted to have been of assistance.