thinking of selling up?

[Guest]

has anyone got an idea how much a one bed 83sqm appartment in greenfort is, fully furnished and with double balcony wrap around.

[leigh & andrea]

What ever you can get! You'll be lucky to get your buying price, with developers offering deals and staged payments at low prices it is very difficult to sell. Finding an agent to sell it for you will be difficult too.

[Di and Sean]

ROME was not built in 1 day,if you can afford to keep your apt for approx 2 more years ,you will be frontline real estate,but if you wish to sell now you will sell at a loss,even if you sell even ,you will have to pay 20PCT TAX ON YOUR MONEYleaving bulgaria,,,,,,,,,

[Guest]

As of 1st January 2007 you can sell one property per financial year without paying CGT in Bulgaria as long as you live in an EU country.As for bringing money back to UK you get around £8500 per year capital gains allowance or around £17000 if you brought as a married couple and also you can deduct the cost of estate agents and other fees therefore bringing down your tax liability in the UK.I have been told all of this by two different property companies who had no reason to lie to me and also read it in several property magazines so lets hope its true

[Di and Sean]

thankyou guest,,,im sorry if i misled anybody but info i had was pre jan 1 07 ,,,sorry DOH;;;;;;;;;;;;;

[Adam]

i was also told this by my lawyers in bulgaria recently. if this is the case now then what is the problem with puting a lower price on the notary deeds when completing therefore paying less tax then and then as long as you sell one property per year you are not liable for CGT. Or am i just mising something?

[Guest]

I think you are right but when you bring the money bact to the UK the price that you declared comes into effect as the UK taxman will want to know how much profit you have made to work out your liabilities here.

[Guest]

How do the UK tax authorities know when you bring the money back?

[Guest]

Because any transaction around the world over £9000 is automatically noted and can be traced at any time.This is to combat fraud.When you sell a property anywhere it will almost certainly be by electronic transfer which can obviously be traced.Also you have to convert the money back into English which again is traceable.