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Sam, Accountant
Category: Tax
Satisfied Customers: 14195
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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If we brought in to the Uk 300,000.00 from abroad, how much

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If we brought in to the Uk 300,000.00 from abroad, how much tax will we need to pay
Thanks for your question, I am Sam and I am one of the UK tax experts here on Just Answer. Can you advise how this £300,000 has come about? As this affects whether its even liable to tax.
Customer: replied 3 years ago.

My mother was had a living tenacy in a Trust set up by our grandfather, this money came from the Trust and on sale of land belonging to the family.

Thanks for your response and the additional information
So the trust was set up abroad and related to land abroad? The land was sold by the trust and I assume the appropriate tax paid by the trust on sale of the land and that distribution was made to the beneficiaries after all taxes considered by the trust?
This being the case you will be liable to capital gains tax on your share of the distribution. (you should declare this foreign gain to HMRC) less any foreign capital gains tax suffered
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