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Where Taxpayers and Advisers Meet

Inheritance from a house sale in Jersey channel islands

Joined:Sat Apr 17, 2021 7:59 am
Inheritance from a house sale in Jersey channel islands

Postby YHbella » Sat Apr 17, 2021 8:14 am

Hi, I am a uk born resident but my step-grandad is deceased and left his property to his 16 step-grandchildren. He was a Jersey channel island full resident. The house is being sold straight away, and due to jersey law stamp duty has been paid upon inheriting the house by the executor, but in the channel islands no other inheritance tax needs to be paid. Upon the sale my Jersey residant auntie recieves the money and is legally responsible to transfer everyones amount. I want to understand am i subject to UK tax and if so which one? Capital gains or inheritance? I am recieving an amount of money from the house sale (around £20k) which in the will the house was left to all 16 of us. Sp the money will be split and transferred to each member. I am confused because online I can only see information relating to the estate being charged the tax. If i could have some advice that would be great.

Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Inheritance from a house sale in Jersey channel islands

Postby pawncob » Mon Apr 19, 2021 11:45 am

As a beneficiary there will be no tax liability on the inheritance, all due taxes having been paid in C.I.
With a pinch of salt take what I say, but don't exceed your RDA

Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”