Property TaxesUnderstanding Property Taxes

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). More info

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. Less