Calculation of IHT on Overseas Property which I have no control

I'm currently living in the UK. I'm the registered owner of a mortgaged property in Hong Kong. When I borrowed money from my uncle, who is also living in Hong Kong, before I moved to the UK, I signed an Assignment of Rental Income and Selling Proceeds document at a law firm. In the Assignment, I assigned to my uncle all of my rights and interests to receive any rental income generated and/or selling proceeds when disposing of the mortgaged property in the future. I have to obtain my uncle's consent when I rent out and/or sell the property. Given this arrangement, could you please confirm whether the property would not be subject to Inheritance Tax (IHT) when I pass away in the future? I was told by the lawyer who prepared the Assignment that all obligations contained in the Assignment are binding on my successors and the personal representative of my estate.

Hi Ngok Man Chan,
Thank you for your question for more information regarding inheritance tax please see our pages at the link below How Inheritance Tax works: thresholds, rules and allowances.
Thank you.