I may ask several questions over time as I continue to develop my understanding of the tax implications for my very small property development business.
I intend to purchase property for renovation and then sell on immediately ......I understand that I will be taxed on the profits at normal taxation rates......but what does the tax office see as profits what can be offset against this......Electrical work, plumbing, central heating, Double glazing, damp proofing, dry rot, insulation, kitchen units, bathroom suite.....Solicitors fees buying and selling, Structural survey.....I cant find anything clear cut about this.......please help.
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