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JGM, Solicitor
Category: Law
Satisfied Customers: 12072
Experience:  30 years as a practising solicitor.
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I am a British citizen living and owning a house overseas in

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I am a British citizen living and owning a house overseas in Malta and married to a Maltese citizen. Five years ago my sister and I inherited a half share of our mothers house in England. I pay UK tax on my pension income. Total Sate and Private pension is about £17,000.00. I do not own any other property in UK. The house was valued at £200,000.00 at the time of our mothers death. Now it is estimated to be worth £300,000.00. Can you please estimate what my CGT liability will be if we sell the house.

If you sell the house and as an example incur sale costs of say £6000, your share of the profit on sale will be £47000. You can deduct your annual allowance for CGT and apply the tax rate based on your income leaving a CGT bill of £4580.

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