Lenders for property purchase in UK tax net
Owners of UK property and those who've made loans to acquire it, are urged to prepare for far-reaching changes to inheritance tax laws.
A new UK regime comes into force on 6 April which will see those who've lent funds for property purchase, and those acting as guarantor, fall within the IHT 'net'.
The change will create a liability regardless of the domicile status of the owner - or lender - and whether or not an offshore company has been formed to own the property.
Time to wise-up, according to senior tax consultant at Island-based wealth management firm Equiom Solutions Monica Dixie.
Reviewing investments, preparing for the change and planning for any liability are essential, according to Ms Dixie:
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