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Where Taxpayers and Advisers Meet

Tax due to Italian authorities for UK house sale and inheritance

ZaraECane
Posts:1
Joined:Thu Aug 27, 2020 11:57 am
Tax due to Italian authorities for UK house sale and inheritance

Postby ZaraECane » Thu Aug 27, 2020 12:04 pm

Hello,

I'm wondering if anybody could recommend me a good tax expert for UK - Italy tax questions.
I'm a UK Citizen, living as a resident in Italy. I owned a flat in London from before we moved to Italy, which we have just sold. There is no tax due in the UK for the sale as there was no capital gains, but I am wondering if I will be charged tax on the money if I move it into an Italian account? (Other than the standard 3 monthly bollo on all savings in Italy...).

Separately, my grandmother also left me some money and a share in her house in the UK. Again, none of this is liable for UK tax as it's below the threshold. Is there anything I need to do/declare or be careful of if moving this money to Italy?

Thanks in advance!

darthblingbling
Posts:707
Joined:Wed Aug 02, 2017 9:09 pm

Re: Tax due to Italian authorities for UK house sale and inheritance

Postby darthblingbling » Thu Aug 27, 2020 1:35 pm

While there may not be a tax liability, did you report the disposal to HMRC? Typically this needs to be done within 30 days if conveyance.

If you were non UK tax resident at the time of disposal you would have been subject to the NRCGT regime.


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