HMRC Admin 5 Response

Hi

As your father is not UK resident, he has no Capital Gains tax or Inheritance Tax liabilities in the UK, provided the property is not located in the UK.  
As you will be the owner of a second property, you should confirm in writing which of the two or more properties you own, is the one you consider to be your main residence for Capital Gains tax purposes.  
If you don't do this within 2 years, HMRC will determine your main residence, based on the facts of the case.  
Please have a look at Tax when you sell your home.

Thank you

Hi anderssummers

If you are employed by a UK employer, they will have an employer's reference number, attached to their local tax district.  
The payroll department of your employer, will be able to provide you with this information, as well as their head office address.  
If you are not in employment then you could use ""N/A"" or or leave the box blank if it permits this.

Thank you


 

Hi

We cannot comment on scenarios.  If your mum gifts the property to you, she may have capital gains tax to pay, but this may be reduced by private residence relief.  
Your mum's estate may have inheritance tax to pay is she passes away within 7 years of gifting the property to you.  
Have a look a the guidance on inheritance tax at How Inheritance Tax works: thresholds, rules and allowances.  
If you inherit the house through a will, rather than be gifted the property during your mother's lifetime,  You may have capital gains tax to pay on its disposal.  You would need to obtain the market value of the property at the time is gifted to you or obtain the probate value if you inherit it, so that a gain can be calculated from the disposal value.  
There is a calculator at Tax when you sell property, which will also allow you to create a capital gains account, so that you can report and pay any capital gains tax within 60 days of completion.

Thank you

Hi

We cannot comment on scenarios or detailed questions of this nature, only provide general information / guidance in this forum.  
For an answer to a detailed question of this nature, you would need to contact our self assesment helpline on 0300 200 3310, or seek professional advice.

Thank you