I have an EW dom deceased with an estate where beneficiaries varied to take advantage of the 36% reduced rate. The estate contains French assets (property, chattels and cash) and IHT has been paid both in UK and in France, though we’ll be dealing with a DTT claim.
HMRC’s of the opinion that as the French immoveable assets passed by forced heirship, they do not form part of the general component for the purposes of calculating the baseline amount. I would have thought that as IHT is chargeable on those French assets in the UK, then they should be available in the calculation.
Any thoughts on who is right? I have been given no basis for their assertion.