I am a UK resident and taxpayer. My parents are not UK citizens, do not
live in UK, and do not own any assets in UK.
My question is, if I inherit their assets (all outside UK) in future, am I
liable for any UK inheritance tax?
Thanks in advance.
Whilst I personally think the answer to the implied question is obvious,
I don't have enough certainty to give a definitive answer, so I would
suggest asking HMRC.
However, I would point out that inheritance tax is a tax on the
deceased, not the beneficiaries. The only time that money is extracted
from people other than the deceased is when lifetime gifts that are
still taxable cause the tax liability to exceed the value of the estate.
If UK inheritance tax were payable, the identity of the other country
could be important, because there may be anti-double taxation provisions.