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TaxRobin, Tax Consultant
Category: Tax
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Experience:  International tax
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I have a client who wishes to know if there is capital gains

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I have a client who wishes to know if there is capital gains tax payable when an overseas property is sold and some of the proceeds are used as a gift to his children?
HelloYou pay CGT when you dispose of overseas property if you’re resident in the UK. You may also have to pay tax in the country you made the gain. If you’re taxed twice, you may be able to claim relief from Double taxation.The use of the proceeds as a gift would have no relevance on the CGT.
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