What is the current rate of paying capital gains on an investment home?
What is the current rate of paying capital gains on an investment home? Im am in am selling a rental property and like to know how my profit will be taxed.
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Answer by Lucky
Flat rate of 18% since April this year on the gain (ie: proceeds minus selling fees minus cost). You can also deduct your annual exemption - about £9,600 - before calculating the tax.
There are some other reliefs on rental properties, depending on whether or not you have ever lived in it.
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