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Tax on selling property in the UK

civic · 2006-05-17 12:08:31

Hi, I am planning on selling an apartment in the UK fairly soon in order to finance a new home here. I bought the apartment a good few years ago for £110. It is now worth £180. My question is what taxes etc.. do I have to pay over here when I sell the property. It looks like I am due to pay CGT @ 20%. Is this 20% of the…

17-05-2006 12:08pm

#1

civic

Closed Accounts Posts: 41 ✭

Join Date: November 2002

Posts: 19

Hi,

I am planning on selling an apartment in the UK fairly soon in order to finance a new home here. I bought the apartment a good few years ago for £110. It is now worth £180. My question is what taxes etc.. do I have to pay over here when I sell the property. It looks like I am due to pay CGT @ 20%. Is this 20% of the profit only? Are there other charges that people are aware of?

In addition am I still classed as a first time buyer. The only property I have ever bought is the apartment in the UK. It makes a big different with the stamp duty etc..

Appreciate your answers..

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Comments

#2 17-05-2006 1:27pm

hmmm

Registered Users, Registered Users 2 Posts: 11,205 ✭✭✭✭

Join Date: March 2001

Posts: 11072

If you have bought anywhere in the world you are no longer an FTB

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