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Posted Fri, 20 Dec 2024 13:53:07 GMT by kbp78
Hi HMRC Admin team, I am UK citizen through Naturaliastion and tax resident in UK. I have inherited agricultural land (India) through will after my father's death and it is now under consultation for mandatory acquisition by the government. I understand inherited property will not be attracting UK inheritance tax as my father was citizen and resident of India. Any proceeds will be Capital Gains free in India based on any of the two counts 1) Agricultural land 2) Mandatory acquisition by government. Can you let me know if there is any UK tax due / inheritance tax implication on my behalf in below scenarios 1) Mandatory acquisition by government through government order 2) Sold voluntarily to the government as part of acquisition process (assume same as point 1 above) Thanks
Posted Tue, 07 Jan 2025 16:38:03 GMT by HMRC Admin 19 Response
Hi,
Capital gains will be due if there is any increase in value from the date you inherited to the date sold. You can see guidance here:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you.

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