Capital gains?

I inherited a property over 10 years ago but it had a mortgage outstanding which was transferred to me. I had a valuation done at the time, 115K. I have purchased adjacent land and have significantly improved/modified the property costing around 50K. A recent valuation re-assessed its value as 240K. What is taxable if I now wish to sell. It is not my primary residence.

Hi Rubi57mc,

The mortgage is not relevant when it comes to capital gains tax.
You would need to work out the gain from the disposal value, minus costs.
Costs can be the market value of the property at the time of inheritance, the cost of buying the land, selling costs, improvement costs, solicitors / estate agent fees etc.  
Have a look at Capital Gains Tax: what you pay it on, rates and allowances

Thank you.