Discover how the latest UK Inheritance Tax changes could offer significant tax advantages for expats in Portugal who meet the residency criteria to safeguard their non-UK assets from future tax liabilities while maximising their financial benefits.
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With recent updates to the UK's Inheritance Tax (IHT) rules set to take effect in April 2025, UK expatriates in Portugal have a unique opportunity to safeguard their wealth and ensure a lasting legacy for generations to come.
Announced in the 2024 Autumn Budget, these changes introduce a residency-based taxation system for IHT, potentially exempting expats from inheritance tax on non-UK assets, such as overseas property, savings, and investments.
According to a recent Financial Times article, British expats who have lived outside the UK for at least 10 of the last 20 years will no longer face Inheritance Tax on non-UK assets. This shift presents significant tax-saving opportunities for UK expats residing in Portugal.
Understand Tax Relief Opportunities: Learn how the updated UK Inheritance Tax rules can offer considerable tax savings for expats once they have lived outside of the UK for 10 years or more (consecutive or not), provided their assets remain outside the UK.
Plan for the Future: Discover why UK expats intending to stay in Portugal or considering relocation should strategically move their assets to ensure their inheritance beneficiaries are exempt from future tax burdens.
Review Pension Plans: Explore expert advice on revisiting pension plans, with pensions coming under the scope of Inheritance Tax from April 2027.
Niall Macdonald, Partner and Wealth Manager at Beacon Global Wealth Management: As an international cross-border wealth manager based in Portugal, Niall specialises in supporting affluent families who are navigating the complexities of the Portuguese tax system and other double taxation considerations
Chris Marson, Managing Director at Beacon Global Wealth Management: Experienced in managing significant wealth for UHNW international families, including setting up and structuring family offices.
Paul Stannard, Chairman and Founder at Portugal Pathways and the Portugal Investment Owners Cub: Under his leadership, Portugal Pathways has facilitated Golden Visa applications and hosted events on Portugal’s economic and investment future, positioning the country as a prime destination for wealth management, luxury property, and strategic investment.
This webinar was hosted by Steve Philp, Partnership Director at Portugal Pathways.
Schedule a free consultation with one of our expert team to understand how you can maximise your future financial and tax position as a wealthy international expat in Portugal.
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Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice.