If you own property in the UK, there are various taxes that you may be required to pay. As a buyer, you pay Stamp Duty Land Tax on purchasing a new property (subject to the property's value), and if you are a seller selling your second home, you must pay Capital Gains Tax on the profits that you make from the sale of the house. Everyone, except for those in full-time education or under 18, must pay Council Tax to fund the public services in the local area (such as rubbish collection and a local police force).
Landlords must pay tax on the income they receive from renting out a property (unless they are part of the government's Rent a Room scheme, in which case the first £4,250 of the income is tax-free). If you rent a property from a landlord, you are usually responsible for paying the Council Tax. It's important to fully understand your tax responsibilities if you own or rent a property, as you can be fined for failing to pay the right amount. Find out more about the various types of property tax below.
Learn more about the taxes that you pay on Property in the UK
Landlords must pay tax on the income they receive from renting out a property (unless they are part of the government's Rent a Room scheme, in which case the first £4,250 of the income is tax-free). If you rent a property from a landlord, you are usually responsible for paying the Council Tax. It's important to fully understand your tax responsibilities if you own or rent a property, as you can be fined for failing to pay the right amount. Find out more about the various types of property tax below.
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