I have had a letting house in UK since 1978 willed to me by my parents?

Question

If I sell it now would I have to pay capital gains and at what rate

Answer 1

Don't sell whatever you do. Get a survey to find out how much it's worth then get a mortgage or re-mortgage for 75 or 80% of the value (banks will give you this all day long). By doing this you will 1. have cash to hand and 2. you will still have equity in the property and you will still own the proprty and next year you can do it all again releasing about 10k a year.

Answer 2

ofcourse,and all the tax for the rental

Answer 3

CGT is now sale price less base figure x 18%

Answer 4

I know a lot of real estate in the USA.  I know nothing about UK capital gains.  If you click on the UK flag at the bottom of the page, you will get great answers.  Or does it bounce you back here because we all speak English. /