property tax sale second home scotland
property tax sale second home scotland
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Discussion

Jumpingjackflash

Original Poster:

686 posts

208 months

Wednesday 14th April 2021
quotequote all
Hello, I was thinking of selling my flat that I rent out. I was told there is a second property tax Can someone tell me hoe much tax I would be expected to pay please? The profit is expected to be £50-60k. Cheers

Groat

5,637 posts

140 months

Wednesday 14th April 2021
quotequote all
Depending on your circumstances and how good your accountant is it could be very little.

( And '2nd tax' on sale is the imaginary PH btl naysayer banana boat tax which only applies to people who volunteer it to HMRC in return for a little stamp they give you to put on your forehead and think about when you're shaving that reads G U M ).