bringing spanish property sale euros back to UK

samay30

hi.
i wish to bring the proceeds of a recent spanish property sale back to the UK
(to pay off our mortgage etc.) i've paid the local taxes and fees and the compulsory 3% spanish capital gains tax. does anybody know if there's likely to be any UK tax i'll have to pay? thanks

mrposhman

i would expect CGT on the profits, though I would expect there to be a double tax treaty in place whereby you can only pay a maximum of the UK CGT so whatever you have already paid will be netted off the UK sum.

samay30

Thanks mrposhman, i had sort of suspected something like that but wasn't sure