Property Tax

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The way property is taxed in the UK differs depending on whether the property is private or commercial.

Privately held property is usually subject to Stamp Duty Land Tax at the point of purchase, and Capital Gains Tax consideration at the point of sale. If part of your home is used for business purposes, you may become liable for Business Rates.

Commercial property is also usually affected by Stamp Duty Land Tax at the point of purchase and Capital Gains Tax on any sale, but also subject to Business Rates while the property is owned. VAT regulations should also be a consideration, as you can decide to opt out of the available VAT Exemption.

In this section we’ll look at the most common areas that are applicable to our clients. If you have questions to which you cannot find an appropriate answer, please get in touch. As a small team, we’re limited in terms of the content we can realistically include and maintain here, but are both able and happy to help with less common circumstances too!

Image of wooden house under a magnifying glass as illustration for Post 'How is Property Taxed?'

How is Property Taxed?

Property Tax depends on how the property is owned. In this post we’ll look at property that is owned privately. Tax in this case is implemented in two ways…

Principal Private Residence

The home you own and live in is deemed to be your ‘Principal Private Residence’. There is an associated Principal Private Residence Relief which enables you to reduce your Capital Gains Tax (CGT) liability when you sell the property.

Stamp Duty Land Tax

Stamp Duty Land Tax is usually referred to as Stamp Duty, and can be a hefty additional amount to pay on top of the purchase price of a property in England.

Tax Rates 2023/24

We’ve listed below the latest tax rates and allowances as announced in the 2023 Spring Budget, or before.

Related News Items

Why not take a look at these sections too, as there is some overlap between our categories and we’d hate you to miss out!

Personal Tax



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