UK landlords and property investors must understand what Capital Gains Tax (CGT) is. This is vital if you sell your rental property or a second home. Determining tax implications is not always straightforward but it is fair to say that with the help of property gains tax calculator, you can instantly learn your tax liability. In this blog post by Quick Tax Returns, we will look closer at how the property gains tax calculator works, and how it impacts your landlord self assessment tax return, and other obligations with HMRC. What is Capital Gains Tax on Property? You only have to pay Capital Gains Tax when you sell or otherwise dispose of a valuable asset for a profit (or “gain”). Property owners, who do not actually live in a property…
