Mikesofia wrote:10% seems extortionate
I'm just finalising a deal on a property in Spain and the taxes there will be above 60%.
What tax you pay in BG will depend on a number of factors - for example if you bought 15 years ago you probably bought through a company to which you loaned the funds to buy, so you can offset the interest you will have had to pay yourself from any profits (but you did declare this on your annual return, right?). You may also be able to offset expenses you have incurred over the years. If I remember correctly if you keep a property fro 5 years or more you don't pay CGT - in any event, worth speaking to an accountant for the up to date story.