Tax on House sale

I have a 260,000 mortgage which is the amount I had to borrow to buy out my previous partner when she returned to the UK 3 years ago.

The valuation on the nota simple is 180,000

If I sell the property for 260,000 will I have to pay tax on the difference between the valuation and the selling price (260,000-180,000)X18% = 14,400, or do they calculate tax on the difference between repayment of the mortgage and selling price, ie 0.

I am unable to continue my mortgage payments as I have no job at preset.

Dear Sir,

I have no idea what you mean by "valuation on the nota simple".

Capital Gains Tax will be taxed at 18% on the difference between the price at which you purchased and what is now being sold for. Many purchasing expenses can be offset thus reducing the taxable base.

If the difference is positive you pay 18% on it whether resident or non fiscal resident.

If it comes out negative or zero you may apply for a tax refund which takes a year on average.

You will also have to pay for plus valÃ*a tax on selling, unless the purchaser agrees to pay it for you.

I take the opportunity to offer you our sales conveyance service should you be interested.


Examples of horror stories that have happened and still happen each and every day to individuals who put their trust on an estate agent, developer or private sellers without consulting a lawyer:

"I thought my sale was going through and took my property off the market for 6 months before finding out the purchaser couldn’t afford it! I was left without compensation!"

"I was only told at the notary that they were going to be holding back paying me 10,000 Euro and then I couldn’t sign on the property that I wanted to buy!"

"I was given at the Notary forged bank notes, something which I discovered a week later, and now the buyer refuses to acknowledge he handed them over to me!"

"After selling my property, I was advised by a friend on how to fill in the capital gains tax forms. The calculations were not done properly, and I ended paying much more taxes that I was meant to!"

"I never knew I could claim back the 3% retention that was withheld at the Notary on a property I sold at a loss, and now I’ve lost it!"

"The sale didn’t go through and now the estate agent refuses to hand me over the deposit he is holding in escrow!"

Feel free to contact us on the matter if you have further queries.