H
Habib123
New Member
Hello,
i'm thinking of potentially selling my property but before I commit to the conveyancing process with a buyer I think I may have a retrospective income tax liability as during the last 11 years of ownership I let the property out whilst living at my mum's house for 58 months during 2 separate periods. I've worked out the profit during both periods is £10,200.
Will I be taxed on this when I go through the conveyancing process and will show up on the completion statement once the sale goes through ?
thanks,
habib
i'm thinking of potentially selling my property but before I commit to the conveyancing process with a buyer I think I may have a retrospective income tax liability as during the last 11 years of ownership I let the property out whilst living at my mum's house for 58 months during 2 separate periods. I've worked out the profit during both periods is £10,200.
Will I be taxed on this when I go through the conveyancing process and will show up on the completion statement once the sale goes through ?
thanks,
habib