Tax on Property Sakl from an Offshore Trust

[PIOM 1]

When an Isle of Man Trust holds a property on the UK mainland, is the Trust subject to any IHT or CGT tax should it sell the said property?

[wamstax]

I will leave an IHT specialist to asnswer that part of your enquiry however,
The trust could in fact be liable to Income Tax on any gain from the property as opposed to CGT and if the property was let out then unless application had been made to HMRC CNR (Centre for Non Residents) to have rents paid without deduction of tax the renters should be deducting tax at basic rate and remitting it to HMRC.

If it's a trust you are interested in and you are a UK resident then I suggest you seek professional advice from somebody well versed in Offshore Trusts and the tax implications for both the trust and UK resident settlors and beneficiaries.
Hope this helps and season's greetings from
bill@wamstaxltd.com
http://www.wamstaxltd.com