Last year a husband and wife client moved back abroad in tax year 2022-23. They are both Norwegian domiciled and they have moved to a town in Sweden close to the border (to avoid the Norwegian wealth tax – policy makers please note). They are in their late sixties and are semi-retired. They are still partly active in the oil industry.
They were resident in the UK for 20 years and hence deemed domiciled with a five-year inheritance tax run off period. While in this country they ran consultancy businesses which have now ceased. They have no residual UK assets.
They ceased being clients after I submitted the 2022-23 tax returns. I am still in contact with them on a personal basis.
My question is: if either or both of them die in the five-year inheritance tax period do I have any responsibility to inform...
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