Capital gain tax liability on sell of foreign inherited family home

Good evening, I am settled in Scotland since 2004 with my family. Our family home in South Asia inherited from parents will be sold and the fund will be shared among the sidings. I understand that the amount of fund I will receive will be below the UK inheritance tax celling. I would like to know if there will be any capital gain tax liability for me for this fund. I pay PAYE UK tax. Your guidance will be much appreciated. Kind regards

Hi,

Yes you will need to report any gain for your share of the property. See link below:

Capital Gains Tax: what you pay it on, rates and allowances

Thank you.

Thank you for your guidance. Do I have to report even if the gain is less than 3000 GPB, after allowable ductions such as legal and agency fees? please advice.

Hi,
Yes as it is foreign income.
Thank you.