I have a UK dom who I am giving IHT advice to. Their spouse is non UK dom.
I understand that the GWROB legislation continues to apply in this scenario; if the UK dom spouse gifted an asset to his non UK dom spouse and continued to benefit it would fall foul of the GWROB rules.
However, I cant see the same trap in the POA legislation. This legislation appears to have a blanket exemption on gifts to spouses meaning, if my client gifted cash, regardless of whether he benefited from any asset resulting from that cash gift, he would not be subject to POA.
Does anyone have any thoughts to the contrary?
Claire Spinks
British Taxpayers