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Posted Wed, 02 Oct 2024 18:56:18 GMT by Karolina Apaszka
Good morning, I have a few questions I would appreciate your help with: My parents, who are not British citizens nor UK residents, intend to gift me a piece of agricultural land. If they decide to proceed with this, will I need to pay any tax? If so, how can I find out the amount, and how much time do I have to notify HMRC? If the agricultural land is gifted to me before my marriage, will it be considered a joint asset with my spouse? Thank you in advance for your assistance. I look forward to your response.
Posted Thu, 10 Oct 2024 13:56:50 GMT by HMRC Admin 20 Response
Hi, 
Please refer to guidance at:-  Capital Gains Tax: what you pay it on, rates and allowances
Thank you.

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