What is the capital gains impact of Buy To Let?

When the time comes to sell your buy to let property, you will be responsible for paying any taxes on your capital gains. That is, any profit that you make on the sale of the property is considered a capital gain, and you will be responsible for paying tax on that amount.

However, for an individual, in the 2016/17 tax year, you are allowed a tax allowance up to £11,100 for capital items. This is a tax allowance specifically for capital items and is separate from your annual personal income tax allowance. If you sell your property and personally make more than the £11,100 allowance, you will pay a tax rate between 18% - 28% on the profit, depending on the amount of income and capital gains you have.

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This will be why Charleston have such a great reputation then!! Many thanks Andrew for the expeditious and favourable response, the offer ticks all the boxes and looks near a perfect match to what we are seeking!

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