On Nov 13, 8:42*am, jgharston wrote:
Stephen wrote:


For example, if you buy a property for £60K, spend 60K refurb'ing
it, and sell it for £180K that is: 180K - £60K - 60K - 10K allowance
equals 50K taxable. The tax rate you pay is determined by adding
that 50K to your other income for the tax year. The income tax
band that puts you in determines the GCT band you pay. If the
50K plus your other income puts you in the lower income tax
band you pay 18% CTG on the 50K. If the 50K plus your other
income puts you in the top income tax band you pay 28% on
the 50K.

Looking at sites like this:

http://www.sayersb.co.uk/tax%20rates/cgt.html

I don't think it is added to your income but taxed as a separate
amount.

Jonathan