The International Business Times reports that the children of former UK prime minister Margaret Thatcher will avoid paying millions of pounds in inheritance tax because their mother’s house in Belgravia, London, is registered to an offshore trust.

Thatcher, who died in April, left £4.7 million to her family in her will, with a third each going to her children Mark and Carol, and the remaining third to be shared between her grandchildren when they reach 25.

Not mentioned in the document is the house in Chester Square, recently valued at £12.5 million by Zoopla, which Thatcher lived in for the last decades of her life, reports the Mirror.

via Margaret Thatcher Estate Avoids Millions in Inheritance Tax.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.