In the halcyon days of buy-to-let ownership, landlords were able to benefit from lettings relief if they sold a let property which at some point had been their only or main residence. This could reduce the chargeable gain by as much as £40,000. While the relief still exists, it is now only available to landlords […]
Lettings Relief – Do You Qualify? Read More »
If you realise a chargeable gain on a UK residential property, you now have 60 days rather than 30 days in which to tell HMRC about the gain and make a payment on account of the tax that is due. A chargeable gain may arise on the sale of a residential property if that property
60-Day Window to Report Residential Property Gains Read More »
If you sell a property that has not been your main residence throughout the period that you have owned it, you may need to pay capital gains tax if a gain arises on the disposal of the property. This may be the case if you have an investment property, such as a buy-to-let or holiday
Working out the Capital Gain on the Sale of an Investment Property Read More »
Unlike a gain on the sale of the main residence, which qualifies for private residence relief (as long as the associated conditions are met), any gain that arises on the sale of a second home or an investment property (such as a buy-to-let property) will be liable to capital gains tax. Since 6 April 2020,
Sale of a second home or investment property – Reporting the gain and paying the tax Read More »
