If you’re buying a property in any of these common situations, find out if you will need to pay tax when you eventually sell it.
Your main home is the property where you live for most of the time, or if you have more than 1 property, it’s the one that you have the greatest connection to.
Generally, you do not pay tax on any profit you make from selling your main home.
There are some exceptions to this. Here are the situations where you would need to pay tax.
If you're buying a property to rent out, you'll have to pay tax on the rental income you earn. You may also have to pay tax on any profit when you sell the property.
Here are the situations where you’d need to pay tax on your rental income and property sale.
If you sell your holiday home or bach, you’ll only need to pay tax on the profit in these situations.
Buying to sell
If you buy a property with the intention of selling it again, you’ll have to pay tax on any profit from the sale. This applies even if reselling was only one of several reasons for buying a property.
You may have to sell a property unexpectedly, for example due to:
- money problems
- a relationship change
- having to sell a property you intended to rent-out long-term.
Even if you have to sell unexpectedly, the tax rules do not change. Here are the situations where you’ll need to pay tax on a property sale.
Struggling to pay?
If you sold for financial reasons and you're having trouble paying your tax bill, we can help.