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Cgt

Postby Welshboy » Wed Jan 10, 2024 8:08 pm

I am a fiscal resident in Spain...I have a house in the Uk on a buy to let mortgage of £50k the house was valued at £280k when I took this out.
My query is- if I sell - will CGT be on the difference between the 50k and 280k, or the actual price,I sell the house for?..
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Re: Cgt

Postby marcliff » Wed Jan 10, 2024 8:21 pm

If you bought the house for 280k then CGT will be charged on the difference between that and what you sell it for now. The price listed on the deeds and bill of sale.
However, there are lots of things you can claim for including improvements and legal fees so see a good gestor who is up on such things.

Always get legal advice when large sums are involved.
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