Inheritance from foreign trust
Hello, I have a client who is a beneficiary to a foreign discretionary family trust, which has no link to the UK other than him (he is UK resident, UK tax payer).
He hasn't received any distributions to date.
Anyone know what his UK tax treatment will be when his parents die and the trust capital and income is distributed to him and his siblings? Is it the same treatment as a regular foreign trust situation with respect to CGT and income tax, or is it treated differently due to it being an inheritance?
I'll suggest he gets tax advice, but curious if anyone has seen this situation before.