Capital Gains Taxis applied to any profits made through investment in assets. It is applicable to things like cars, art and in this scenario, property. In this article, we detailwho is liable to pay Capital Gains Tax upon the sale of a property in the UK and how much that tax is likely to be.
When it comes to working out your taxes at the end of the year things can get a bit complicated. What counts as rental income? What can be expensed? What tax bracket are you now in? We could go on and on. So, we thought we might see if we can't make it all a little bit clearer for you.
We thought we would break down what the MTD change actually means, how it will affect property managers and rental owners, and how you can stay compliant easily with property software like Landlord Studio.