📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Capital Gains Tax on sale of property abroad

2»

Comments

  • nina36 said:
    Unfortunately I can't make head or tail out of the information in the link in terms of how much would be taxed at 18% and how much at 28%.
    It is impossible to say without knowing the individual income of each of the three owners. In your previous post you have indicated that you are working out the overall gain rather than each individual’s share of the gain - not the way to do it. You need to take one third of the proceeds, deduct one third of the costs and reliefs and deduct 12300 for each. The resultant chargeable gain is taxed according to the individual tax position. If each had no income at all, for example, the gain would be charged at 18% on the first 37500 and 28% thereafter. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.6K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.9K Spending & Discounts
  • 244.6K Work, Benefits & Business
  • 599.9K Mortgages, Homes & Bills
  • 177.2K Life & Family
  • 258.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.