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Posted Wed, 28 Dec 2022 18:31:12 GMT by Helen Barnett
My partner is UK resident (settled status Spanish national) and pays tax and a mortgage here in the UK. His mother who lives in Paraguay is very unwell. She wants to put her assets in his name so that he can manage them. They do not make income but he will be looking to sell them. How does this affect his tax in the UK?
Posted Wed, 04 Jan 2023 15:37:49 GMT by HMRC Admin 19

If ownership of the assets is transferred to your husband and he then sells those assets, for example, a property, then he may be subject to Capital Gains Tax.  

The residence, domicile and remittance basis guidance is important, as it can help determine if tax is payable on the disposals. Your husband would need to review the guidance at RDR3 and undertake the tests at RDR1, to determine if he is resident, domiciled or resident non domiciled and if he is remitting the gains to the UK.  

RDR3 Statutory Residence Test

Thank you.

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