Commentary

I8.226 Blocked foreign assets

IHT, trusts and estates

I8.226 Blocked foreign assets

I8.226 Blocked foreign assets

Many overseas countries operate exchange control systems freezing assets situated within their jurisdiction owned by aliens, and preventing repatriation to the alien's own country. The extent and severity of these regulations vary from country to country. In some cases virtually no assets can be taken out of a country by UK residents for economic or political reasons (Sri Lanka, Pakistan, Zimbabwe, Chile, etc), while in others, such as India, the remittance of limited amounts each year is permitted. To allow for this, HMRC permit a discount, appropriate to the severity of the blocking, from the official

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