Taxation on PET made by a non-domicile

If a non-domicile gives up their right in a life interest trust (of which some of the Trust assets are based in the UK and some are based in Greece) and dies within 7 years of relinquishing their entitlement, would their estate be assessed in the UK for Inheritance Tax in the usual way a non-dom’s estate is assessed, i.e. is it whether the assets in the UK exceeded the £325,000 to included failed PETS?

Martyn Dixon
Harold Bell & Co.