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Call to action over IHT rule change

Lenders for property purchase in UK tax net

Owners of UK property and those who've made loans to acquire it, are urged to prepare for far-reaching changes to inheritance tax laws.

A new UK regime comes into force on 6 April which will see those who've lent funds for property purchase, and those acting as guarantor, fall within the IHT 'net'.

The change will create a liability regardless of the domicile status of the owner - or lender - and whether or not an offshore company has been formed to own the property.

Time to wise-up, according to senior tax consultant at Island-based wealth management firm Equiom Solutions Monica Dixie.

Reviewing investments, preparing for the change and planning for any liability are essential, according to Ms Dixie:

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