The following Trusts and Inheritance Tax guidance note Produced by Tolley in association with Elizabeth Norton at Russell-Cooke Solicitors provides comprehensive and up to date tax information covering:
Unilateral relief may be available as a credit against UK inheritance tax (IHT) where a tax of a character similar to UK IHT has been imposed on property in an overseas territory.
Unilateral relief will apply in relation to territories to which double tax relief does not apply.
Where double tax relief can also apply the provision that provides the greatest relief can be claimed. See the Double tax relief for IHT guidance note.
Some foreign jurisdictions have their own version of unilateral relief, such as Germany. These may be limited to some extent (in the same way as UK unilateral relief).
For the relief to apply, tax must be imposed in a territory outside the UK and be attributable to the value of any property, and:
the tax must be of a character similar to UK IHT or be ch
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