UK Domicile
Domicile is a uniquely British concept that has been ‘exported’ to most Commonwealth countries, including Cyprus.
Potentially Exempt Transfers (PETs)
Potentially Exempt Transfers enable individuals to give gifts exempt from UK Inheritance Tax if they survive for 7 years afterwards.
Inheritance: ’tis the season for giving
There are tax advantages in passing on wealth during lifetime, especially if the parent is UK domiciled or has assets in the UK subject to Inheritance Tax.