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Posted Thu, 03 Aug 2023 22:01:47 GMT by
Having inherited a quarter of my parents property in Belgium on the loss of my mother 20+ years ago, and now the loss of my father this year I wish to gift my portion of the property (or the proceeds of the my portion of the sale) to my fathers surviving partner. Wether I gift the portion of the property before sale or gift the process after sale there is tax to be paid in Belgium, but what what tax (if any) do I need to declare and pay in the UK for either of these scenarios? I am a resident in the UK for tax purposes.
Posted Tue, 08 Aug 2023 10:33:32 GMT by HMRC Admin 17 Response

Hi,
 
Whether the property or sold or gifted, results in UK capital gains to pay.

You can claim relief for the tax paid in Belgium to reduce any UK liability :

Tax when you sell property     .

Thank you.
 

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