Tax on disposing inherited land abroad

Hi,
My father passed away last year and I have inherited a piece of land from him, in Montenegro.
He was not a UK domicile.
If I sold that piece of land, would I be liable to pay UK CGT on the proceeds?

Hi
Potentially, yes.  
Using an exchange rate in use at the time you inherited the property, convert the inherited value to GBP sterling.  
Do the same for your costs and the disposal value.  
Do the same for any tax deducted in Montenegro.  
The disposal value minus the allowable costs is your gain.  
Subtract the annual exempt allowance of £3000.  
If any money is left, it is taxable.  
Whether or not there is a gain, you are required to report the disposal on a self-assessment tax return.
Further Guidance is available at: Tax when you sell property: Selling overseas property
Thank you.

Hi, Thank you very much for your answer. My dilemma is as to the value of the land - it was in the family for very long time and not valued previously. For CGT purposes - will the value of land at the time of inheritance be used for calculating the gain? Thank you.

Hi,
Yes, the value of the land on the date you inherited it would be used to calculate the CGT liability.
Thank you.