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Capital Gains tax on property sale abroad?

b1234
b1234 Posts: 66 Forumite
in Cutting tax
Does anybody know if I have to pay capital gains tax in this country if I sell a property abroad?
My parents sold me a rental property 10 years ago in Holland for a nominal amount. I want to sell it now, and it is worth substantially more than what I paid for it. There is no capital gains tax in Holland. I am a resident in the UK, but not a tax payer (stay at home mum). Am I liable for any tax here?

Comments

  • chrismac1
    chrismac1 Posts: 2,585 Forumite
    A UK tax resident is chargeable to UK tax on their worldwide gains and income.
    Hideous Muddles from Right Charlies
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    What have you been doing tax wise with any rental income?
  • b1234
    b1234 Posts: 66 Forumite
    getmore4less wrote: »
    What have you been doing tax wise with any rental income?

    I paid tax in the Netherlands. They have a system where tax is based partly on the value of the property, partly on the rental income, which worked out as a tax rate of around 50%.
  • b1234
    b1234 Posts: 66 Forumite
    chrismac1 wrote: »
    A UK tax resident is chargeable to UK tax on their worldwide gains and income.

    that's a shame... thanks
  • Cook_County
    Cook_County Posts: 3,096 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    chrismac1 wrote: »
    A UK tax resident is chargeable to UK tax on their worldwide gains and income.
    Not if non-UK domiciled and claiming the remittance basis.
  • Cook_County
    Cook_County Posts: 3,096 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    b1234 wrote: »
    I paid tax in the Netherlands. They have a system where tax is based partly on the value of the property, partly on the rental income, which worked out as a tax rate of around 50%.
    Did you report this on UK tax returns or file as a non-dom claiming the remittance basis each year?
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