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There are five main types of tax that landlords have to pay:
Stamp duty is usually the first tax that landlords have to deal with.
You pay it when you buy any property in the UK.
The rate depends on the purchase price:
| Property purchase price | Stamp duty |
|---|---|
| up to £125,000 | 0 % |
| £125,001 – £250,000 | 2 % |
| £250,001 – £925,000 | 5 % |
| £925,001 – £1,500,000 | 10 % |
| over £1,500,000 | 12 % |
You pay an additional 3% in Stamp Duty if you’re purchasing:
Scotland and Wales have different rates and exemptions.
To calculate it, add the rent (minus expenses) to your other income sources: this determines your tax band.
| Income | Tax rate | Description |
|---|---|---|
| up to £12,500 | 0 % | Personal allowance |
| £12,501 to £50,000 | 20 % | Basic rate |
| £50,001 to £150,000 | 40 % | Higher rate |
| over £150,000 | 45 % | Additional rate |
Check out our guide to paying tax on rental income for more information.
You need to pay Class 2 National Insurance on your rental income if:
You need to pay CGT when you sell property for a profit:
| Overall annual income | CGT rate (applies to your entire CGT profit) |
|---|---|
| below £50,000 | 18 % |
| over £50,000 | 28 % |
Most people do it via their annual tax return.
You don’t pay CGT for:
Check out our CGT calculator for more details.
Inheritance tax is a tax on everything you leave when you pass away (including properties):
| Who owns the estate | Estate value | Inheritance tax |
|---|---|---|
| Yourself | under £325,000 | 0% |
| Yourself | over £325,001 | 40% |
| Couple / Civil Partnership | under £650,000 | 0% |
| Couple / Civil Partnership | over £325,001 | 40% |
Get your self assessment prepared for you online by certified accountants for £119
Our online tax-bot will go over your tax situation and will make sure you won’t overpay your taxes.
You can talk to one of our tax assistants at any time during the process when you have any questions.
We’ll tell you exactly what documents you need and sort them for you online. You just upload them or snap a picture with your phone.
Your certified accountant will go over your details & prepare your tax return for you to review. It will be filed on your behalf once you approve it.
We have a simple online service that guides you through the entire process. Regardless of your reasons for doing your tax return we'll help you get it done right.
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At TaxScouts we appreciate that tax returns are highly individual. Before you get assigned an accountant we make sure to understand your circumstances and help you build your optimal tax profile.