SMF - Just Installed!

Profit received on sale of rental property - income?

Started by Joanne E, April 09, 2015, 02:33:14 PM

Previous topic - Next topic

Joanne E

I've recently sold a property I rented out and made a profit - do I need to declare this as income? On my next self-assessment, and tax credits? For the tax credits I'd rather tell them sooner rather than later.

Riptide

It's not income, it's a capital gain so capital gains tax could be due.