You may get tax relief if you sell property that you use for business. This may reduce or delay the amount of Capital Gains Tax you pay.
If the purpose of your business is to buy and sell property (you’re a property developer, for example) you do not pay Capital Gains Tax when you sell a property. Instead, you pay:
- Income tax – if you’re a sole trader or partner
- Corporation tax – if you’re a limited company
ATED-related CGT is payable mainly by companies that own UK residential property valued at more than £500,000.