I'm considering setting up a business to buy houses cheap and selling them on at their true market value.
Will I have to pay CGT on any profits I make when selling a house (ie buy house for 75K sell for 100K, will the 25K profit be subject to CGT), or if I operate as a Ltd, will I just have to pay Coperate tax?
Tax on Selling Property.
2 posts • Page 1 of 1
by King_Maker on Sun Oct 09, 2005 11:24 pm
You are likely to be classed as a property developer and be subject to Income Tax (or Corporation Tax, if a limited company) rather than CGT.
I recommned you seek professional advice on whether a limited company or sole trader/partnership is best suited for your business needs.
I recommned you seek professional advice on whether a limited company or sole trader/partnership is best suited for your business needs.
- King_Maker
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2 posts • Page 1 of 1
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