UK Tax Questions? Ask a UK Tax Advisor for answers ASAP
Take a look at sections 5 and 9 of RDR1 here.
If you consider yourself to be UK domiciled, you are liable to tax in the UK on your worldwide income and gains whether you bring them into the UK or not.
If you consider yourself to be non-UK domiciled, then you have had the choice to be taxed on your worldwide income and gains as described in the previous paragraph or on the remittance basis whereby you pay tax on your UK source income and gains and on non-UK source income and gains which you bring into the UK. However, as you appear to have been resident in the UK since 1995 and assuming you have been so for at least 17 of the last 20 years, you would be liable to the remittance basis charge of £90,000 for any tax year you choose to be taxed on the remittance basis. See the notes here.
Your share of the gain on the disposal of the property will be liable to Capital Gains Tax in the UK if it is taxed here. The cost for UK CGT purposes will be the sum of your share of the value of the property as at 31 March 1982 and the value of the share of the property you acquired in 1998. Gains accrued before 31 March 1982 are not subject to CGT.
I hope this helps but let em know if you have any further questions.