-
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.
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
Bookmarks