Deed of Gift

Can I simply use a UK deed of gift to give a part of an overseas property which was given to me without my knowledge to save me travelling half way round the world ?

Anybody ?

Hi
You would need to check with the overseas authorities to see if they would accept it. You will also need to declare a capital gain as this would be seen as a disposal of the property unless it was gifted to a spouse or a charity.

Thank you. That’s interesting so if the ‘sale-gift ’ transfer was done at a lower value than ‘purchase-gift’ does that mean a loss would arise which could be offset against any other capital gains?

Hi Pandaman,
The transfer would need to be based on the market value, so if this is less than the value when transferred to you then yes a loss would arise and offset against future Capital Gains Tax. 
Thank you.