Hi all,

I recently returned from a trip to Bansko. I have decided to buy a 1 bed room apartment off plan through Interlink (International Property Group). The apartment I went for will be linked to a four star hotel 'The St.Ivan Rilski'; does anyone have any dealings with either company?

There are conflicting reports regarding Capital Gains Tax (CGT), I have read that after 5 years we don't pay CGT on the profit made when selling the apartment, other articles state that 15% should be paid when ever the property is sold?

Can anyone clarify the situation? :confused:

Thanks for your time, Steve ...

Hi, yes it is really confusing with conflicting reports all over the place.

You need to be resident in Bulgaria to avoid the CGT situation you are talking about if you have bought the apartment as an individual. This means you would have to show proof of residency - i.e., a lichna carte (residency permit)... Otherwise, afraid you will have to pay tax on any profit you make - this will be 15% here in Bulgaria and then any extra to the UK revenue they charge on top for capital gains on profit from a second home.

Does this clarify? If not, do ask again
All the best, Quest Bulgaria

Many thanks for your clarification....:)

Cheers Steve ...

This is getting messy?

Do you know if we were to buy the apartment in a single name (to rent it out) then in a few years (before we sold the apartment), have the deeds altered to joint names we could double our tax allowance on CGT? :confused:

Any constructive comments welcome regarding CGT in the UK. :o

Cheers Steve .....