Capital gains tax on property
If you sell a property, you might have to pay capital gains tax on any profit made.
If the property is your main home you would normally be entitled to “private residence relief”. This means that you would not usually have to pay capital gains tax. If the property is not covered under the private residence relief exemption, then you might have to pay capital gains on any profit.
Typical types of properties that might be subject to capital gains:
- An investment property , such as a buy to let
- A second home
- Business premises
- Land , for example agricultural land
We would recommend that you seek independent professional advice, when selling an asset such as property.
