New queries, issue 4271

Coping with tax

My clients Mr and Mrs A are a husband and wife; Mr A was born in the UK and has lived here all his life.

Although in apparently good health having recently achieved his ‘three-score years and ten’ and when discussing the completion of his 2009/10 tax return he raised the question of his potential inheritance tax liability.

He and his wife own most of their assets – a UK main residence and a holiday home in France plus various other investments – in their joint names and I would estimate their joint estate at about £700 000.

Mrs A was born in Denmark to Danish parents but acquired a UK citizenship and a UK passport after her marriage. I believe that this means that she has surrendered her Danish nationality.

As I understand it it seems that my clients...