Have Tax Questions? Ask a Tax Expert for Answers ASAP
Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer.
There may be capital gain implications of the sale of this property, but could you let me know a little more please so I can establish this so
1) Are you a British citizen and live in the UK
2) When did you purchase and sell this property
3) Was it ever your main residence - if so please advsie dates
4) Did you rent this property out - and if so did you declare rental income to HMRC
I can then advsie further
Then if you have made a profit on the sale, you will have a capital gain to declare to HMRC and if its more than £11,200 (this is this years exemption allowance) then you will have capital gains tax to pay.
If you complete self assessment tax returns then add this capital gain position onto your self assessment return for the relevant tax year, if you do not complete self assessment return then you need to register with HMRC to do so.
Do let me know if I can assist further. however it would be appreciated if you could rate me for the level of service I have provided, or click accept (if you have all that you need)
As this is a new question. then as per Just Answer policy you can either
1) List a new post with a new amount offered OR
2) I can offer additional services for an extra fee
But it would be appreciated if you can rate this question first