US-UK Tax Talk
Tax talk and more from Collyer Bristow. A series focusing on English tax law, but always with a US flavour. Disclaimer: This content is provided for general information only and does not constitute legal or other professional advice. Appropriate legal or other professional opinion should be taken before taking or omitting to take any action in respect of any specific problem. Collyer Bristow LLP accepts no liability for any loss or damage which may arise from reliance on information contained in this material.
US-UK Tax Talk
UK Probate for Americans (Part 1)
Aidan Grant is joined by Senior Associate Nathania Hall to discuss what Americans with UK assets need to know about the UK probate process. In this first episode of two, they explain how UK inheritance tax applies, and what the tax filing process looks like for an estate. In the next episode, they will consider the complexities of a UK probate application for an international estate.
(00:00) Introduction
(01:29) Discussion on inheritance tax
(12:26) When inheritance tax is due
(14:07) How to file the inheritance tax return to HMRC
(15:38) How to complete the IHT 400
(16:44) Criteria for individuals filing the IHT 400
(20:23) Spousal exemptions
(21:54) Paying inheritance tax on a property
Run time: 25 minutes
