You may be liable to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) property that’s not your home, for example:
- buy-to-let properties
- business premises
- land
- inherited property
The rules are different if you:
- sell your home
- live abroad
- are a company registered abroad
When you don't pay
Generally, you do not need to pay tax on gifts to your husband, wife, civil partner or a charity. You also may not have to pay if the property was occupied by a dependant relative.
Also, you may get tax relief if the property is a business asset.
If you need to pay
You must report and pay any Capital Gains Tax on most sales of UK property within 60 days.
For more information visit gov.uk.
