FAQs
Why do cross-border families face double taxation risk?
They may owe tax in both the US and the UK due to residency and citizenship rules. Coordination reduces overlap
Do trusts simplify family wealth planning?
Trusts help manage assets but require careful structuring and reporting. Professional oversight remains essential.
How does domicile affect inheritance tax?
Domicile influences UK inheritance tax exposure. Changes in residence can affect status over time.
Can property in another country trigger tax issues?
Yes, rental income and gains often face tax in multiple jurisdictions. Planning reduces duplication.
Why should families use specialist accountants?
Specialists coordinate cross-border reporting, tax credits, and succession planning. They protect wealth and reduce risk.