• From This is Money:

    If there has been a rise in the value of the house, will we be liable to pay capital gains tax? P.M.H., Bexley, Kent
    From the information you have provided I think that there may be a CGT liability though this does depend on the increase in the property’s value.

    The rules state that you will normally have a chargeable gain if your property is worth more than you paid for it when you sell or dispose of it.

    It’s worth bearing in mind that when working out the chargeable gain you can deduct some of the costs of buying, selling and improving the property. There is a single rate of capital gains tax of 18% for individuals on taxable gains….

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    Posted by Jon @ 11:18 pm

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