First post so hello.
I sold my apartment in Bulgaria for 70K Euro last Thursday (minus 2500 costs) and have some questions about the Capital Gains Tax implications I hope you can help with please.
The purchase price in 2002 + expenses and cost of turning it from an off plan shell to a fully furnished rental property were in the region of 50K Euro. The receipts I have are incomplete and in Bulgarian, which I can't understand, I'd really struggle to produce an accurate figure but 45 to 50K is a fair estimate.
I've never lived there, visited a number of times though, and it's always been a rental place though with long vacant periods. I have never owned property anywhere else.
I've not made any other Capital Gain in 2013-14.
I've lost a bit on the exchange rates with transfers to purchase and furnish receiving around 1.35 EUR to GBP whereas now it's1.2ish, again though my records aren't great.
My thoughts are 17,500 gain - the exchange rate hit of say 10% = 15,570 Euro gain = 13K GBP so some CGT to pay.
What are your thoughts on what I've shared above please? Does the rental angle have an impact?