Hi there newbie here. What tax do I pay confused 🤔
If I buy a property,renovate it and sell on for profit, do I pay CGT or Income Tax? I have purchased homes in the past which I let out, but have sold them not at a profit. So I guess that classes me as a second home owner? If the house sells at a profit, do I minus my personal allowance, and renovation cost and legal costs and what's left over I'm taxed on that BUT WHICH TAX BRACKET US IT CGT, INCOME TAX OR BOTH? Any help be appreciated.
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