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Smink
Posted Thu, 02 May 2024 20:06:45 GMT by Smink
Foreign Family business sold assets and I am a beneficiary. I did not purchased the property, it was sold. What are the cgt implications ?
HMRC Admin 32 Response
Posted Mon, 13 May 2024 08:30:52 GMT by HMRC Admin 32 Response
Hi,

No Capital Gains Tax is due as you did not own the asset. The funds would be seen as a gift.

Thank you.

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