Inheritance Tax Changes to Benefit UK Expats in Portugal

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Watch back This Webinar:

‍Changes to UK Inheritance Tax and Pensions Set to Have Major Benefits for Expats

‍The UK government announced changes to Inheritance Tax (IHT) rules in the 2024 Autumn budget, offering significant savings for UK expatriates in Portugal.

From April 6th, 2025, the UK will switch to a residency-based taxation system for Inheritance Tax, changing the rules for how the tax applies to expats. This would allow UK expats in Portugal to potentially be exempt from inheritance tax.

British expats living outside the UK for at least 10 out of the last 20 years will not be subject to Inheritance Tax on non-UK assets, such as overseas property, savings, and investments, according to a recent article in the Financial Times.

What to expect watching back this webinar:

• Learn how UK Inheritance Tax changes would provide substantial tax relief for those living in Portugal for 10 years or more; however, it would only be for those who keep their assets outside the UK and in Portugal or abroad.

• Discover why UK expats intending to stay in Portugal or considering relocating from the UK should also strongly consider moving their assets so that their inheritance beneficiaries are exempt from future tax burdens.

• Explore how experts recommend that pension plans should also be reviewed by UK expats in Portugal due to pension funds being under the scope of UK inheritance Tax from April 2027 onwards.

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Webinar host and Panellist:

• Paul Stannard, webinar host, and Chairman and Founder at Portugal Pathways and the Portugal Investment Owners Cub

• Steve Sayer, Manager at Utmost Group: Utmost Group is a leading international wealth management specialist with over 25 years of heritage and €24 billion* in assets under management.

• 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.