Karolina Apaszka
Joined: 10/2/2024
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Tax on Gifted Agricultural Land and Asset Treatment
Good morning, I have a few questions I would appreciate your help with: My parents, who are not British citizens nor UK residents, intend to gift me a piece of agricultural land. If they decide to proceed with this, will I need to pay any tax? If so, how can I find out the amount, and how much time do I have to notify HMRC? If the agricultural land is gifted to me before my marriage, will it be considered a joint asset with my spouse? Thank you in advance for your assistance. I look forward to your response.