Buying and selling property

Buying and selling a property is always a major event, and there are lots of tax implications to think about too. Learn more here:

How can we help?

  • I’ve just bought my first buy-to-let property. Do I need to complete a tax return?

    Yes. You need to register for a self-assessment tax return and enter your rental income on it. You can also declare most of what you spend on the property as an expense, which reduces the amount of tax you pay.

    We can show you which expenses are allowed, and how to work them out correctly. We can also look at ways to have the tax collected through your PAYE tax code, rather than paying it in one go at the end of the year.

  • I’ve got a second property. How can I reduce the tax burden when I sell it?

    If your property has increased in value, you may have to pay Capital Gains Tax (CGT) on the increase. It depends on a number of things, including whether you’ve ever lived there, whether it’s been let, improvements you’ve made, the size of the garden and so on. It may also be worth nominating the second property as your main residence.