A.Lee wrote:

Tony Hayes wrote:

Can anyone explain the tax implications if you were to buy a house (in
addition to the one you live in), renovate it and sell it for profit.

Presumably posted to the wrong group?
Capital gains tax is,afaik, the only thing you'll be paying after any
profit.
You have an annual 'exemption' amount for CGT, and then over this amount
(£7000ish), the tax rate is the same as Income Tax I think.
Alan.

Thanks for this - yes I posted to the wrong group! I'm always doing it -
must be age related!

Apologies
Tony