CheMey

Thank you, so what else treated as the costs to be deducted for calculate gain or loss? Costs on improving the conditions of property in order to make it sellable? estate agents fees, solicitor fees, government fees paid abroad…etc?

Thank you, so what kind of foreign tax credit relief includes? If there is no capital gain tax abroad on selling the property, should other cost of paying to abroad government reduce UX tax due?

I am a UK tax resident and I will receive an oversea property giving from my father(he is not a U.K. resident) as a gift, my questions are: 1. Do I need to pay tax for receiving this oversea property as a gift from my father? 2. Do I need to pay CGT if I eventually sell it which is a gift and not I bought it for my own? 3. If there is a tax implication, how to calculate the capital gained? Is it the difference between the price sold and the market value on the date of transferring it to me or the difference between the price sold and the price when my father bought it 30 years ago? 4. If there is tax implication and being paid in the country for the selling of that property, is there any capital gain tax relief applied in UK?

I am a UK resident and my father(not a UK resident) will transfer his own property abroad to me, my questions are as follow, thanks 1) Do I need to pay tax for receiving the oversea property as a gift from my father? 2) Do I need to pay CGT on that oversea property if I sell it which is a gift not I bought for my own? 3) If there is a tax implication, how to calculate the gained? Is it the difference between the price sold and its market value of the date of transferring the property to me or the difference between the price sold and the original price my father bought it 30 years ago?