***DO I HAVE TO PAY CGT ON ABROAD ONLY PROPERTY IF I DONT HAVE ANY PROPERTY IN THE UK LIVING IN A RENTED PLACE?

[super1]

***DO I HAVE TO PAY CGT ON ABROAD ONLY PROPERTY IF I DONT HAVE ANY PROPERTY IN THE UK LIVING IN A RENTED PLACE?

hello

I have a question regarding a capital tax gain on overseas property. Can someone tell me if I have to pay any CGT if I sold my only house I had.
I have no other property in the UK, I live in the rented place. I inherited land abroad and built a house when I lived in the UK. I never lived in that abrad house. Normally if you live in UK and sell youronly house then you dont have to pay CGT on it. In my case I lived in rented UK place and had only house aborad.

If I have to pay can I diduct all costs?


thanks

[bd6759]

If you live in the UK and sell a house you do have to pay CGT, unless that house is your main residence. It does not matter where the house it is. If it was not a residence, there will be CGT to pay.