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Posted Thu, 25 Apr 2024 08:52:10 GMT by Nina Formby
Hi, I am resident in Germany and wish to gift a property in Germany to my child who is resident and working in the UK. We both have dual nationality. In Germany gift tax would apply to such property above 400,000.. with conditions.. Must my child pay tax in the UK on such gifted property (property and gifter are not in UK)? Many thanks
Posted Wed, 01 May 2024 07:23:46 GMT by HMRC Admin 5 Response
Hi

No. She will have to declare any income that is generated from the property if it is rented or sold.

Thank you

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