Property as a gift

Hi, I'm a Belgian citizen settled in the UK and my parents, who reside in Belgium, want to buy property in the UK. If they were to eventually gift this property to me, would I have to pay tax? Thanks

Hi,

If your parents are resident in Belgium when they gift you a UK property, they may have tax to pay in Belgium.  

You may be subject to Capital Gain Tax should you decide to dispose of the property at a later date. You can see the guidance below which includes a calculator, to help work out a capital gain.

Capital Gains Tax

Thank you.

Q.Do I pay CGT on a buy to let property if I put it in a trust fund for my grandchildren?

Hi Sunshine,

Yes, please see below link.

Trusts and Capital Gains: work out your tax

Thank you.