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Posted Sun, 13 Aug 2023 15:35:53 GMT by mata22
Hello there, I am tax resident in the UK. I own land in a European Union country, which I received as a gift from my father in 2002. Now I have sold part of the land and according to the regulations of the country where the land is located I am exempt from paying sales tax. I would like to transfer this money to the UK and use it to buy a property to let. Do I have to pay capital gains tax on the sale of this land? If so, how do I account for it and what percentage of tax do I have to pay? Thank you for reply. Regards Mata
Posted Wed, 16 Aug 2023 16:11:35 GMT by HMRC Admin 25 Response
Hi mata22,
Yes, you will be liable to Capital Gains and the tax due depends on your level of total income received. please refer to guidance at:
Report and pay your Capital Gains Tax
Thank you. 

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