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Originally Posted by ecunliffe
I am an British emigrant to the US now a naturalized US citizen. I have owned a home in Great Britain where my mother has lived. Does anyone know when I sell what the UK tax position will be. Do I have to pay capital gains tax and at what rate?
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From my limited knowledge, I believe that there is an agreement between the UK and US governments that assets have to be declared. Therefore when residing in US, you would have to declare the proceeds of the sale in your tax returns.
I would suggest contacting an accountant in the US who can give you the correct details.