David Beaton

I am a UK citizen retired and living with my US citizen wife in the US for the past 8 years. I consider myself US domiciled. I want to transfer funds from my US accounts to my daughter who is a UK citizen and UK resident to assist her with a house purchase. The sums would be well within the US Federal estate and gift tax threshold and therefore I would not expect there to be any US tax liability either now or on my death. Although it is not my plan to return to live in the UK, were I to do so in the future, would any UK inheritance tax liability be created by this transfer or would inheritance tax liability be based only my assets at the time of my death?