Inheritance in UK, living in the USA

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Mar 18th 2006, 12:10 pm

JAJ

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Re: Inheritance in UK, living in the USA

Quote:

Originally Posted by UKintheUSA

Hope this is posted in the correct section...

Does anyone know what is involved tax wise if someone is from the UK, remains a UK citizen or possibly is a Dual UK/USA Citizen (is that allowed here?) inherits their parents estate? We were wondering this after a conversation with my UK Husbands Parents. Hubby lives here with me and has a Temporary Green Card. I am thinking that I would apply for Dual Citizenship and that he eventually would as well if he could. It seems to me that we might be better off to retire in the UK than in the USA considering the high cost of Medical Insurance etc....
Does anyone have any ideas about inheritance tax etc?
Thanks.

Both the UK and US levy inheritance taxes on the estate, so in the situation you describe there would probably be some UK tax payable even if your husband was living in the US. You can read more at http://www.hmrc.gov.uk

There might also be US capital gains tax consequences on future disposal of the assets, and income from overseas would be subject to US tax (but not double tax).

Dual US/British citizenship is allowed. However you can't "apply for Dual Citizenship" - if you're American you apply for British citizenship, if you're British you apply for US citizenship.

You can't apply for British citizenship until you have lived for 3 years in the UK. Your husband would need to sponsor you on a spouse visa first (just like the US).

Last edited by JAJ; Mar 18th 2006 at 12:13 pm.