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Is CGT due?

Smink
Posted Fri, 03 May 2024 05:56:51 GMT by Smink
I am a uk citizen, resident in the uk. I am one of the beneficiaries of the sale of a property by the family business abroad in Nigeria . There has been a local tax paid on the sale. The question is am I liable for CGt here should a bank transfer be made to me
HMRC Admin 32
Posted Mon, 13 May 2024 08:39:47 GMT by HMRC Admin 32
Hi,

If you were part owner of the business then yes.

If not and the money is seen as a gift then no.

Thank you.

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