taxing of property abroad

[ChipmunksInAttic]

Hello,

My MIL who lives abroad and owns some land there, planning to put some of her assets on DH’s name to avoid delays with inheritance processes. He is her only child and she says it will eventually be his anyway and he’s free to do whatever he likes with it.

The question is would we be required to pay tax if she gives that land to Dh now? And what would be the tax if he decides to sell it afterwards? We’re in the UK.

Thanks!

Might have to pay tax in MILs country - in this country it would be Capital Gains Tax.

I.e. if your husband had UK land and gave it to his mother he would likely have to pay UK Capital Gains Tax.

I.e. if your MIL owned land in the UK and gave it to your husband then MIL would likely have to pay UK Capital Gains Tax.

So it likely depends on the laws in the MIL country as to whether she needs to pay tax on disposing of the asset or if your husband has to pay tax when he disposes of it.