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Posted Mon, 20 Nov 2023 18:35:49 GMT by
I am considering selling a parcel of land in Northern Ireland. I inherited the land when my my father passed away in 1975. In 1977 my wife and I emigrated to Canada where we are now Canadian citizens. My questions are if I sell the land will there be Capital Gains liable, perhaps not as it was an inheritance, and secondly, if there are Capital Gains, would I be paying these to the UK Government or to the Canadian Revenue authorities. Finally what is the rate of Capital Gains in the Uk and how is it calculated.
Posted Wed, 22 Nov 2023 16:24:53 GMT by HMRC Admin 8 Response
Hi,
Yes you will need to report this:
see guidance at:
Tell HMRC about Capital Gains Tax on UK property or land if you’re not a UK resident (this is for land too)
and
Capital Gains Tax: what you pay it on, rates and allowances
Thank you

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