Capital gains tax on property I DNS Associates I
If you sell a property in the UK, you may be liable for capital gains tax (CGT) on any profits made from the sale. Capital gains tax applies when selling second homes, inherited properties, or buy-to-let investments. However, if you sell your primary residence, you typically won’t owe CGT due to private residence relief.
Capital gains tax on property is calculated based on the profit from the sale, which is the difference between the selling price and the purchase price. Some assets may qualify for tax-free status, so it’s important to be aware of your obligations.