WHERE IS AN ASSET SITUATED?
Life insurance policy Generally, where life company is registered
unless written under seal*
Immovable property Where property is situated
Coins and banknotes Where they are situated
Registered shares & securities Where they are registered
Bearer shares & securities Where certificate of title is registered
Goodwill Where business is carried on
Interest in a partnership Where business is carried on
Debts Generally, where debtor lives
* A life insurance policy can be written under seal from the outset. It cannot be written under seal if it is already in force. If it is under seal, it will be treated as situated where the policy document is located. Non-UK-domiciled people should think about writing a UK policy under seal and keeping the policy document outside the UK. Always be aware that other countries may have an equivalent tax to UK IHT. There is, however, no equivalent IHT in the Isle of Man and the Channel Islands.