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Posted Mon, 29 Jan 2024 16:44:25 GMT by
Hi, I was given a property outside of the UK (in the EU) by my parents - do I need to declare it in my Self Assessment or in any other way? I have declared the rental income from the property. Shall I do anything more? Thank you!
Posted Thu, 01 Feb 2024 10:49:46 GMT by HMRC Admin 2

If you are declaring your rental income in your return then there is nothing else for you to do at this stage.  

Your parents should consider if they have any capital gains to report now that they have disposed of the property.  

Report and pay your Capital Gains Tax

Thank you.

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