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Sorry, I meant the question is from a friend of mine.
There are 2 questions;
1) Ref the property - Yes property was solely owned. It is abroad, please read the question more carefully, so no rental in the UK, just need to know if tax is paid if the money is brought into the uk from the sale of the property.
2) If I am receiving money as a gift from my family living abroad, do I have to pay tax on that sum
The friend owns the property (I am asking the question on her behalf only, so I will exclude myself from the question as it does nor relate to me personally)
Currently she lives in the UK
She will receive the money
The property is NOT in the UK, it did not generate income in the UK.
Also, the answer to the 2nd question please.
Thank you - this property abroad ceased to be her main residence recently in the last 4 months. Does it matter as it is abroad and just want to bring the money into the UK?
Thank you. Can you also answer the second question please. This is completely separate to the property one.
If she is receiving money as a gift from her family living abroad, does she have to pay tax on that sum.