I inherited a flat in April and after renovations I let it via an agency in September. There is no mortgage involved and I have also paid off the mortgage on my own flat.

I am interested in selling it for financial reasons - no job - and using some of the proceeds to purchase a property overseas in my wife’s name. Would I have to pay a lot of tax and would the tax rate be different if we held on to it till next tax year? Thanks
Flat is only worth about £150,000 but I also inherited cash and shares - total amount is less than £300,000.

Thanks
Thanks for reply.

How would I find out the probate value of the flat?

Please excuse my ignorance of these matters
I would say that the total estate was under the threshold.

So, pardon me again, I should contact the District Valuer for their value?.

If they say -£160000.00 but I sell for less than that amount does that mean that there is no tax to be paid at all and the proceeds would be all mine?

Thanks again.

Rent Back

I rent through an agency who take 20% every few months as tax. As the rent soesn’t covber the mortgage am I entitled to claim any of this back?

Quick House Sale

How much from your value of the home do you need for a buy to let morgage ,

Rent Back Fast