maybe someone will be willing and able to help me with the matter of CGT on the non uk property.
UK resident (but not UK nationality) is going to sell the flat in the EU country. They are two owners of this flat both of them live and work in UK for the good few years now. Am I right in thinking that both of them will need to file a Self Assessment and declaire the gain (50/50) in the tax year the property is sold?? and am I right in thinking that the tax they are going to pay in the country of sell can be used lower the CGT liability?
I would be very grateful if someone could point me to some websites or examples on that matter.