For individuals with financial ties to more than one country, navigating the world of international tax can be a source of significant anxiety. The prospect of having your hard-earned income, capital gains, or inheritance taxed by two different countries—once in the UK and again in your country of residence—is a daunting one. This issue, known…
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At Soteria Trusts, we often find that one of the most valuable Inheritance Tax (IHT) exemptions is also one clients use the least: the “Gifts Out of Income” exemption. It’s a powerful tool, yet surprisingly underutilised. Let’s demystify how it works and why it deserves your attention. What is the gift of out income IHT…
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Planning your legacy should be a thoughtful, empowering process. In Hong Kong, creating a Will is an important step to ensure your assets are managed and distributed according to your wishes. One question we often encounter is: “Do I need a lawyer to write my Will?” The answer is reassuring—there is no legal requirement to…
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When it comes to estate planning, many people focus on personal assets like property, savings, and sentimental possessions. However, if you own or are heavily involved in a business, there’s another essential document to consider—a Business Will. At Soteria Trusts, we specialise in helping business owners in Hong Kong secure not just their personal estates…
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August is Will Awarness Month, a crucial reminder for Hong Kong residents to examine their estate planning arrangements. This annual observance highlights a sobering reality: while many of us meticulously plan our careers and investments, we often neglect one of the most important documents we’ll ever create—our Will. Estate planning isn’t just about distributing assets…
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Inheritance Tax (IHT) planning remains a major challenge for wealthy families, UK taxpayers, expats with UK assets, and investors. With an effective rate of 40% on estates above the tax-free threshold, IHT can significantly reduce the wealth passed on to loved ones. However, careful and strategic planning can help mitigate these costs, ensuring your hard-earned…
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Wealth is more than just numbers on a bank statement or stocks in a portfolio. It reflects years of hard work, sacrifice, and planning. For many affluent families, the goal is to pass on that wealth to future generations, providing security and opportunities for their loved ones. Yet, startling research shows that 70% of wealthy…
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Inheritance Tax (IHT) is often described as “death tax” but for UK taxpayers and expats alike, it’s very much a living concern. April 2025 saw the dawning of a new IHT regime that replaced the decades old domicile based rules with a new regime and rules based around an individual’s Long Term Residency (LTR). That…
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If you own agricultural or business property in the UK, or advise clients who do, it’s essential to understand the upcoming changes to inheritance tax (IHT) reliefs—specifically agricultural property relief (APR) and business property relief (BPR). These reforms, taking effect from 6 April 2026, could significantly impact how much of an estate qualifies for tax…
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Inheritance Tax (IHT) revenues in the UK have been climbing steadily over the past two decades, with figures hitting record highs year after year. This trend is far from slowing down, posing significant financial implications for UK taxpayers and expatriates holding British assets. For many, navigating IHT can feel challenging, particularly as tax thresholds remain…
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