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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15976
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I have buy to let property to sale, what are the my tax

Customer Question

I have buy to let property to sale, what are the my tax implications and how do i calculate tax. I am a Higher Tax payer.
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.


Assuming the property has never been your main home, the gain will be the difference between the net of disposal costs sale proceeds and the sum of the purchase price, costs of purchase and any improvement costs. The first £11,100 of the gain will be tax free due to the annual CGT exemption.

As you are a 40% taxpayer, you will pay capital gains tax at 28% on the net taxable gain. Take a look here for information on CGT.

I hope this helps but let me know if you have any further questions.