agento
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RE: tax on non-domicile selling property
Thanks for your reply. May I clarify my understanding of your elaboration. 1. If my mother pass away in UK as a non-domicile, there are no IHT when I inherit her foreign property(not selling). 2. The 'cost' price of the foreign property is from the valuation when I inherit her property. 3. When I sell the property. The calculation of CGT will use the 'cost' price of no.2 May I have some reference about no.2 Thanks again Have a nice day. -
tax on non-domicile selling property
Dear forum, My mother own a property in HK and I will move to UK with BNO Visa and my mother as adult relative dependent visa. However, She may return to HK and become non-domicile. My questions: 1. Is she taxable when sell her only property as non-domicile? 2. Any tax involved if she put the money from sell property into my account? 3. If she pass away in UK as a non-domicile, any inheritance tax when I inherit her property? 4. Once I inherit her property, how to calculate CGT when i sell it? Thanks Have a nice day.