Hi
In 2002 I bought a house for 97,000 cash in 2007 I re-mortgaged the property for 150,000 euros to buy the house I now live in.When we made our declaration de la renta the tax office asked for proof that we used the mortgage to buy our vivienda habitual and accepted that we had and we have always claimed tax relief on it.Last week I sold the original house for 135,000 (I owed 132950 on my mortgage)
My question is what happens about CGT after I paid my mortgage and costs walked away with nothing does this mean that I will pay no CGT.Or will the fact that I only paid 97000 and sold it for 135,000 mean I am eligible for CGT
Thanks
Jayne