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Capital gains question
Posted: Mon Sep 28, 2020 6:03 pm
by andrew2308
If a property has been gifted by my brother to me then at a later date I choose to sell my 50% share would there be any capital gains taxe or any other legal costs? Hope someone can help?
Re: Capital gains question
Posted: Mon Sep 28, 2020 8:48 pm
by 71 Trans Am
In the UK if you inherit or are gifted a property or percentage of property the value via probate is noted at that point of deliverance of the said property and Capital Gains Tax is payable on the increase in value should you choose to sell later - I would think it would be a similar situation in Cyprus but you really need to speak to a lawyer familiar with Cypriot Law