Personal capital gains tax;
timely payment of capital gains tax
The capital gains tax on residential property sales is calculated differently in the UK compared to other capital gains taxes. You pay taxes on 20% to 28% of the profit made from the purchase of the property in certain cases. These taxes only apply when you sell buy-to-let properties, commercial real estate, land, or inherited property; they do not apply when you sell your home. In essence, these taxes are levied upon the sale of any non-home property. You can be entitled for tax savings if the property qualify as a business asset, so be sure to consult with our certified tax accountant. You have 30 days to notify the sale if you don’t live in the UK.