I am still not sure about the answer. Could you kindly elaborate on the following please. My father died in 1985 and I would assume that means my mother, brother and I had inherited the property since his death. How is it calculated and how much do i pay now as we plan to sell it.
Do you mean if my brother comes to the uk, planning to settle here permanently and bring the money that he got from selling the property with him here in the UK, then he will not get any taxed at all.
How do i know whether I am uk domiciled or not as I was not born here neither I have any property here. I lived more than half of my life in the country where this property is. I haven't paid tax here as until recently I was a student and my income now is below the tax threshold.
Could you kindly explain please?
A final question if you don't mind please. Do you have any idea how much (in percentage) are we talking about for the capital gain tax, for example say I gained about £30 to £50K for that matter.
And when do I declare the capital gain? Before bringing the money or after bringing the money? And who (which professional) do you advice to consult with to proceed with this matter please?
Thank you very much for your help. You have been very helpful.
Many thanks. I think this is clear now. Does it however mean that my brother also have to declare the money that he brings with him to HMRC even though he is not a UK domiciled and no tax applies to him? Like me, does he have to get the self assessment done by an accountant as well please or there is nothing to declare to HMRC for this case. Thanks a lot.