Commentary

I4.124 Non-residents' bank accounts

IHT, trusts and estates

I4.124 Non-residents' bank accounts

I4.124 Non-residents' bank accounts

Balances on foreign currency accounts1 within certain banks and other institutions do not form part of the estate of a deceased person immediately before his death if the deceased was not then domiciled, resident or (before 6 April 2013) ordinarily resident in the UK2.

A person's residence and (before 6 April 2013, ordinary residence) is to be determined as for income tax purposes3. A person's domicile can be determined in accordance with the special deemed domicile IHT rules, not solely in accordance with the general law4 — see I9.206.

A foreign currency account is any account with a

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