Tax & Accounting
When investing in property, it is vital to consider how much tax you will need to pay, including stamp duty on purchase, capital gains tax on sale, or income tax on any profits you make from renting it out, as this can all affect your bottom line.
-
Stamp duty: All residential properties bought in England and Northern Ireland are subject to stamp duty land tax if they are above a certain price (currently £125,000 for your main residence, or £40,000 for additional properties).
-
Capital gains: When selling an asset, capital gains tax (CGT) might be payable on any profits made, with the exception of it being your main residential property.
-
Corporation tax: Investing in and trading property as a limited company rather than an individual has become increasingly popular, and corporation tax is often due in this case.
-
Income tax: If you rent out a property, you will probably need to pay income tax on your profits, depending how much you make and your personal circumstances.
In our news section, we always try to cover the latest tax changes and updates that might affect property buyers, and if you become a member we can put you in touch with tax experts as well as accountants who can help.
Share & earn up to £1,000
The latest on Tax & Accounting
Overhaul stamp duty to improve affordability, says HomeOwners Alliance
Calls to either scrap or drastically overhaul current stamp duty rules have been made by consumer advice centre HomeOwners Alliance in a plea to the
Landlords need to make the most of buy-to-let tax relief
As the 2021-22 tax year has come to an end, it’s important landlords are making full use of all available buy-to-let tax relief. This has
Tax 2022: what property investors need to know
Getting your taxes right is crucial for property investors and landlords. While some may employ an accountant to take care of matters, it’s still important
Proposed capital gains reforms for property sales in the UK
The Office for Tax Simplification (OTS) has proposed some reforms to capital gains tax. What could these mean for landlords and property investors? The UK
What Tax Day announcements will impact property investors?
In the first-ever Tax Day, the government made more than 30 tax updates, documents and consultations. What are the implications for property investors? On Tuesday
What property tax changes are predicted for the upcoming year?
As COVID-19 has left a significant toll on public finances, many predict a range of property tax changes will be announced in 2021. How could
