Cross Border Inheritance tax Implications

[dejected]

Hi,
My parents live in Northern Ireland and over 7 years ago signed their house over to myself and my two siblings. By doing this I understand that we do not have a tax liability in the UK. I am however unsure of what the tax liability will be for me living in the south ? Any advise would be greatly appreciated...

 

[Gordon Gekko]

That depends on your domicile position, how long you've been here, the value of your share, and whether you'll receive further assets from your parents down the line.

With regard to the first point, are your parents roots in NI?

 

[dejected]

I have been living here for 20 years. My parents roots are in NI. I have a third of the house (current value £165,000). I will not receive any further assets down the line from my parents.