Hi Folks
It's my first query here and I need some advice on what I am planning to do. Hope some can help me out.
I have recently set myself as a sole trader and I am make £45000 pounds a year before tax in my day job.
My outgoing are minimal and I am able to save up a large chunk of money to make an investment.
I wish to buy a commercial property priced £25000 which I plan to let long term as an investment property.
Since this is a non residential investment can some one guide me what tax I need to pay?
Full tax on £45000 or
Tax on £45000 - £25000 = £20000 after investment.
Anything else I need to be aware of? Is there any downside making this investment?
Regards
Santosh
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