Question Author
Thank you very much Tom Braider for your answere. Please see below more details regarding my property:
I took a personal loan of £19k plus £6k of my savings and bought a residential plot overseas which cost me £25k. Now i want to sell this plot and can sell around £32k (if i convert the currency). I paid around £3k interest on my personal loan. There is currency rate difference/fluctuation as well in two years. I need to travel which would cost me £500 air ticket in order to sell my property plus i also need to pay some taxes on overseas property i.e. development taxes overseas which is around £500. I also need to pay property agent who will help me to sell property which cost me around £500. My other expenses i.e. food, travelling etc.
Someone advice me that i would have £10600 pound tax relief? I am not sure.
Please advice how much you think that i have to pay tax.