Foreign property gift back to parents - uk tax?

everfor007

I am not sure it's right place to ask.  I am from india, few years ago got a uk citizen, settled in uk and mother lives in india. Around 15 years ago, my dad gifted the india house property to me.  My dad has passed away, now to support my mother finanicals, i want to give it back the property to my mother, so that she can surive overthere.

 After gifting to her,  do i need to inform hmrc, stating i've gifted the property to my mother? As i am returning the property, does i am liable to pay any uk taxes or CGT?

masonic

There may be CGT to pay based on the market value of the property now vs when you received the gift. There are also inheritance tax and deprivation of assets considerations, although these may not be important if you are young and unlikely to need to claim means-tested benefits.

What isn't clear to me is how it will benefit your mother to own the property vs you letting her live in it rent free (where there would be no tax consequences). Is she looking to sell or borrow against the property?