Britain’s exit from the European Union last year changed many things beyond recognition - and it will have impact on property taxes and inheritance structures as well. How the revised regime changes inheritance rights, succession, property tax or even rental income depends on the person’s or family members’ nationality – especially if the beneficiary is a non-UK national.
For example, the British property inheritance tax has been fixed at 40 per cent of the property value. The beneficiary will have to pay 40 per cent of the price of the tax before taking possession of the asset if the legal owner expires without a will. Inheritance tax can cost loved ones’ hundreds of thousands - however, it s possible to legally avoid it or possibly pay none at all.