LTNR gifting/ leaving assets

Trusts Discussion
1

Where a LTNR under the new legislation makes a gift of an U.K. situs property, would that still be considered a PET?

Also, where a British married couple who are LTNR leave their U.K. estate to each other, are they caught by the previous restriction to £325K applicable to a non dom spouse?

2
  • Yes - still a PET
  • Yes, the restriction still applies in general, but (as before) only if the transferor is LTNR and the transferee is not.
3

Thank you so much Andrew.