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Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2456
Experience:  Over 5 years in practice.
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I own a flat in London bought in 2005 and which is let on a

Customer Question

I own a flat in London bought in 2005 and which is let on a yearly basis since 2006.
I share the ownership 50/50 with a Swedish friend.
We are both Swedish citizens, born in 1945, residents in Switzerland since 2000. Prior to this date I was a UK resident (by marriage) from 1974.
The purchase sum in 2005 was £835.000. Refurbishment £90.000. Value today perhaps£1.6 -£1.8.
Rental income /year is just below £50k i.e £25k ea.We have no other income in the UK and do self assessment tax returns.
What CGT are likely to have to pay if we sell within a year?
Submitted: 1 year ago.
Category: Property Law
Expert:  Harris replied 1 year ago.
Hi, thank you for your question. What is the mortgage on the property, if any.