Good-day,
My father (a SA Resident, Citizen & Tax payer) set up a Trust in South Africa, to which my brotehr is a beneficiary & Trustee. My brother now lives in the U.K. Is a U.K. citizen & UK tax payer.
My father passed away, the residue of his estate was paid into the Trust. We are in the process of dissolving the Trust and my brotehr is due to receive his portion of the proceeds. He needs to pay CGT in South Africa, as this is where the Trust is held.
Can anyone advise on whether he needs to pay tax in the UK too, if so what percentage and how does he go about transferring the money abroad.
Thank you in advance.
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