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CGT on Sale of Inherited Foreign Property

CGT payable on sale of foreign property which has been inhertited?Do domicile rule apply?

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A person who has come to UK within last 10 years sells inherited foreign property.Is the CGT payahle on full sale price & cost will be zeo?.Will he be deemed domicile outside uk and thus no CGT payable?

 

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14th Dec 2018 06:32

Where is the person's actual domicile? There is no provision I know of that deems domicile outside the UK if actual domicile is within it. Anyway, being domiciled outside the UK does not exempt you from CGT. If that's what you meant, go on a course to retrain and in the meantime stop advising nondoms.

Your first question has been discussed ad nauseam on this site. IIRC, opinion is divided (this is Any Answers!). My view (one I base on legislation, rather than discussion in here) is that initial base cost would be MV on death, converted to Sterling at the rate then applicable.

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