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Sam, Accountant
Category: Tax
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Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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If I have made 500k in profits in a year in a ltd company

Customer Question

if I have made 500k in profits in a year in a ltd company but i then buy a btl property for 400k, will i only declare 100k profit and pay corp tax on the 100k?
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Submitted: 13 days ago.
Category: Tax
Expert:  Sam replied 13 days ago.


No as its taken into account when you sell the proeprty only so your profits are still £500K in this isntance



Expert:  Sam replied 13 days ago.


As its a capital gain )corporation tax position at the time of sale only