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Posted Wed, 17 May 2023 23:26:24 GMT by MatejM
Hi HMRC, I would like to inform myself about such a complex matter. My mum (UK Resident, permanent home/ domiciled in Slovakia) received an apartment abroad (Slovakia) with her brother as a gift from their mum in 2013. So 50/50. At that time, the value was calculated at approximately €40,000. My mother's mother (Slovak national) continued to live there until she passed away last year. We assume this is classed as gift with reservation of benefit, please correct me. Now my mum and her brother put it on offer for €73,000. The lawyer who put it in the offer told her that no tax is paid in Slovakia. Does any tax apply here? Does she need to fill out Self Assessment and declare when the property is sold? She makes around £20,000 a year full-time here in the UK.
Posted Wed, 24 May 2023 12:57:37 GMT by HMRC Admin 32

As a UK resident, she may be liable to capital gains on any profit made from the sale.

Tax when you sell property

Thank you.

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