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Posted Fri, 06 Dec 2024 14:06:02 GMT by Cody0424
Hi , my relative died on oct 2021 in hong kong, and inherited a property for me and i receive it around beginning of 2023 , i am a uk tax residence since mid of 2023. if i want to sold it , may i know how to caculate the CGT? Is it also the sold price- the price of the property when my relative died= the capital gain Because hong kong probate do not have the property value when my relative died. so what kind of document can be accepted to prove the value? Thank you very much
Posted Wed, 11 Dec 2024 16:31:44 GMT by HMRC Admin 10 Response
Hi
The gain will be based on the increase in value at the time you inherited it until you sell it. You can also deduct legal costs for selling. A value should have been applied at the time of death/inherited but if not you will need to obtain an estate agent valuation to confirm.

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