4.82 Average

430 Reviews

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What are the tax implications when you sell your house?

The Property Buying Company is the right choice if you're looking for speed, convenience and assurance,

Capital Gains Tax (CGT) is something you have to pay if you sell anything at a profit. This goes for most things you buy. However, when it comes to property things are slightly different.

If the property is your home and you’ve lived there most of the time or have lived there within the last three years, you can claim Private Residence Relief on profit made from its sale. This means you won’t pay Capital Gains Tax. You must not have ever rented out any part of the house (having a single lodger does not count towards this) or used any of it solely to conduct business. You must also not have bought the property simply to make a profit. Similarly - married couples are only allowed to count one property as a main home at any one time.

There are a few other situations where you don’t usually have to pay CGT:

  • If the property was a gift from a husband, wife, civil partner or a charity
  • If the purpose of your business is to buy and sell property e.g., you’re a property developer. *Instead you will pay Income tax (if you’re a sole trader or partner) and Corporation tax (if you’re a limited company)*
  • If a dependent relative lived in the property

Selling a property that is a rental, holiday let, land or inherited property means you can’t claim Private Residence Relief and may need to pay CGT.

Finally - if you’re not a UK resident then you will need to calculate your Non-Resident Capital Gains Tax using the government calculator online.

As cash buyers, we buy any property, in any condition, in any location. If you want to sell your property quickly or want to find out more about how we can help, then get in touch today. All legal fees are included in our service so what we quote you is what you’ll receive.

To find out how we can help you, call us on:

0800 024 8444
Sold

How much can you get?

Complete a few details to see if your property qualifies and get a cash offer

5 simple steps to having your property sold!

Our quick (but thorough) 5 step sale process means we can buy your house fast and at a great price

Cloud Sun Sun  
 
  • 01.

    Check to see if your property is eligible check now

  • 02.

    Receive an offer from us within 24 hours

  • 03.

    We’ll visit your property & formalise our offer

  • 04.

    We’ll instruct solicitors and pay all fees

  • 05.

    Exchange contracts & complete as usual

Rated as Excellent - aww thanks guys!

Independent reviews of our service from reviews.co.uk

4.82 Average

430 Reviews

Lisa Proctor

Really good experience

Posted 20 minutes ago

Anonymous

very professional service, unfortunately we need a higher offer, so we will be refusing the offer made.

Posted 1 hour ago

Anonymous

Mine was a tentative enquiry. The lady was polite, informative and not “pushy”

Posted 5 hours ago

Kim z Woolley

They take all the stress and worry away and always willing to help.

Posted 3 days ago

Margaret

I didn’t end up using the service as I got a buyer but they were very professional and helpful! Couldn’t praise Daniel enough

Posted 3 days ago

Why sell your house to us?

We’re one of the leading buyers of residential/commercial property and land in England and Wales. We buy using our own cash facility meaning we can offer the best prices in our industry and complete the sale quicker than anyone else.

Your options Average sale length Typical cost to you
The Property Buying Company 2-3 weeks £0.00
Other House Buying Companies 2-10 weeks £1000
Property Auction 6-10 weeks £2500-£5000
Online Estate Agents 16-52 weeks £1000(upfront)-£5000
Estate Agents 16-52 weeks £5000

Unlike most of the other options available to you, we are not a broker or middle man, meaning you skip the fees and get a sale quickly and easily.

The Property Buying Company is registered with the Property Ombudsman and is a member of the National Association of Property Buyers

National Association of Property Buyers The Property Ombudsman
500+

Properties bought by us for cash in
the last 2 years

£61,554,000

Of our own money spent buying
property for cash

2-3 weeks

Average time taken from initial offer
to completion