Hello and welcome to the site. Thank you for your question.You inherited a flat in 4/2007. It has now been sold. It has been your property since this date.As the property is not your main residence (you are German resident), the gain made on the property would be chargeable to UK capital gains tax as per changes made to CGT rules for non residents with effect from 6 Apr 2015.Your gain would be calculated using the valuation of the property at 5 Apr 2015 and not the value at the time of inheritance.So if the value at 5 Apr 2015 was say £325,000 and your sale proceeds are £350,000, then the gain is £25,000. You would be able to deduct costs associated with the sale of property (i.e. solicitors' charges, agents fee etc).More information on charges to CGT for non residents can be found here
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I guess the price the property will have gone up in 2 months , will be used up by the solictors fees and costs encsured on my side, as well as the insurancefor april-june 2015 and the management fees.- So it will be about
5000.-pounds increase in 2 months Maximum! which will be used up by my
costs. thank you for your answer which was helpful.
If you are happy and there are no more issues I will appreciate if you would kindly rate/accept the service I provided to ensure I get credited for it.