I tried to get clarification on the HMRC website but I couldn't find a definitive answer.
I'm about to receive a large gift in stocks, worth ~500,000 GBP. My accountant says that the cost basis is the value of the stock at the time the gift is received. Hence if I immediately liquidate the value of the stocks I shouldn't incur in any capital gains tax. However, the donor is from abroad, in a jurisdiction that doesn't tax gift, his cost basis is 100,000 GBP. Is my cost basis different in this case?