abous
Joined: 8/15/2024
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Gift from foreign property sale proceeds
My father wants to gift me the proceeds from selling a property that he currently owns abroad. My father is not a UK citizen and has never been a UK tax resident. I am both a UK citizen and tax resident. Since the gift is from the sale proceeds, the buyer will be transfering the sum to my UK bank account directly upon the completion of the sale. Are there any tax implications for receiving this form of gift?