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Posted Mon, 20 Nov 2023 11:09:59 GMT by
Hello to you all. My son living in Canada intends to gift me some shares, which I would intend to sell immediately not intending to profit from any rise in value. Would I be liable for any capital gains tax? I am a uk basic rate tax payer.
Posted Tue, 21 Nov 2023 16:36:55 GMT by HMRC Admin 10 Response
Hi
If there is no increase in value from the date they are gifted to the date they are sold, then no gain will be due.
Your son will need to check the tax position in Canada though for his tax position.

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