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  • RE: inheritance tax on cash from parents based overseas

    Hi, I am a non resident non British citizen, I am an Egyptian living in Egypt and hold accounts (cash) in both USD and GBP in a bank in London. Will my children (living in Egypt too) have to pay inheritance tax if I pass away? I understood from the website that they will have to pay 40% on any GBP amount over 325,000 but none on the foreign (USD) currency account, did I understand that right?