Bernie Sanders
Joined: 1/6/2025
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Tax Liability for Inherited Property Sold Abroad and House Purchase in the UK
Hello, I have been living in the UK since 2013 and hold settled status. Last year, my grandmother in Lithuania passed away, and I inherited her flat. I sold the flat for €98,000, while the official property valuation was €103,000, meaning I didn't make any gain (as confirmed by the Lithuanian tax authorities). Additionally, as a grandchild, I was exempt from paying inheritance tax in Lithuania. I am now purchasing a house in the UK, and my solicitor has informed me that I won’t be classified as a first-time buyer, so I will need to pay a Land & Buildings Transaction Tax (LBTT) of £1,500. My question is: am I liable for any other taxes in the UK due to the sale of the inherited property abroad and the purchase of the house here? Kind regards,