milena_wil
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Tax implications on gifted overseas property and later subsequent sale
I am a UK resident with settled status, living, working, and paying taxes in the UK. My mother, who lives in Poland, plans to gift me two building plots located in Poland. I would like to understand the tax implications in the UK in two scenarios: When I receive the gift: Are there any immediate UK tax liabilities or reporting requirements when I am gifted these plots? When I sell the plots: If I decide to sell these plots in the future, what UK taxes would apply? Thanks for your assistance.