Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Mon, 19 Feb 2024 18:46:42 GMT by briteurocisk
This is a question about transferring money from the EU to the UK in order to purchase a house. I am pasting the below facts in bullets: a) The land was acquired in 1973 and I do not believe there is a way to calculate its original value b) The land was used for a summer house only and not a permanent residence throughout those years c) The land might be sold in 2024 and the taxes are zero in the origin country d) The person owns a percentage of this property and not all of it e) The person is a resident in the UK since 2015. A British citizen since 2020 or 2021 f) The person is a high band tax payer in the UK and pays no taxes in the EU country g) The person has not gotten any income out of this property and has no bills under his/her name h) The person had inherited a percentage of this property back in 2003 i) The property money will be paid in an EU account under his mother's name j) If the money be transferred into the UK, it will be into pounds In case the person wants to purchase a house in the UK, he will eventually pay the 5+3% of taxes. However, will the mortgage application get stuck due to this money transfer?
Posted Wed, 21 Feb 2024 10:17:55 GMT by HMRC Admin 25
Hi briteurocisk,
HMRC cannot comment on future events as legislation and/or plans may change.
However, based on current guidance, please refer to:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you. 

You must be signed in to post in this forum.