I'm looking to sell one of my residential buy-to-let properties. What are the specific Capital Gains Tax (CGT) allowances, reliefs (e.g., Private Residence Relief implications if I've previously lived there), and reporting requirements I need to budget for?
Quick Answer
Selling a residential buy-to-let property triggers Capital Gains Tax, levied at 18% or 24% depending on your income tax band, after an annual exempt amount of £3,000. Reliefs like Private Residence Relief may reduce the taxable gain if you previously lived there, and reporting is mandatory within 60 days of completion.
About This Topic
Selling a residential buy-to-let? Understand UK Capital Gains Tax (CGT) rates (18%/24%), the £3,000 annual exempt amount, and Private Residence Relief. Report within 60 days.
This question is part of our Tax & Accounting category, providing expert guidance on UK property investment.
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