How are profits or gains on UK residential property taxed?

This signpost provides links to practical tax guides which explain the different ways in which profits or gains on the disposal of UK residential property and land are taxed for a variety of taxpayers.


UK resident individuals

CGT: private residence relief
What is Private Residence relief (PRR)? What are the qualifying conditions? Can you claim relief on two homes? How do you claim PRR? Can you claim PRR if you develop your garden?

Gardens: selling & development
What are the potential tax consequences of selling a garden for development purposes? What if the owner develops the garden?


Non-residents

CGT: non-residents and UK residential property
What are the Capital Gains Tax (CGT) rules for non-residents who hold UK property.

Non-Resident Landlords
Company landlords move from Income tax to Corporate Tax from 6 April 2019.


Everyone

CGT different ways of taxing UK residential property
A handy summary to show who is taxed, where and when

The Adviser's guide to Property profits & losses
What is property income?  How is it taxed?  How are profits calculated? How are losses relieved? 

Property Profits & Losses Toolkit
Our Property profits & losses toolkit takes HMRC's version and adds a great deal more information about what you can claim as an individual. There are separate rules for companies carrying on property businesses.


Developing property and land 

Profits from dealing in or developing UK land
Essential reading for anyone developing land: the old anti-avoidance 'Transactions in Land' rules were updated to create these in 2016..


Reporting gains on UK residential property and Non-residents reporting of all UK property

Key guides to the 30 day reporting and payment requirements


Tax Trivia

  • Private residence relief is often erroneously referred to as "Principal Private Residence relief", but the legislation at TCGA 1992 s222 does not use the description principal, it uses "main".
  • To claim PRR a property must qualify as "a residence" therefore you must not only reside at the premises but also establish sufficient quality of occupation.

Stamp Duty Land Tax (SDLT)

SDLT: Rates & Allowances
What is Stamp Duty Land Tax (SDLT)? What are the rates of Stamp Duty Land Tax (SDLT)?

SDLT: Residential Property
What is residential property for Stamp Duty Land Tax (SDLT)? What tax rate applies?

Multiple Dwellings Relief & Annexes
What is Multiple Dwellings Relief (MDR)? When does it apply and how is it claimed?

SDLT: Residential property higher rate
What Stamp Duty Land Tax (SDLT) rate applies for the purchase of a second home? What is the SDLT higher rate? Are there any reliefs from the SDLT higher rate?



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