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Personal Second homes become tax target

A new campaign is targeting people who have sold properties that are not their main homes and failed to declare the profits.

Updates Tax changes for 2011–12: Homes and property

For first-time buyers only, the nil-rate threshold for stamp duty has been increased to £250,000 for a period of two years from 25 March 2010 to 24 March 2012 inclusive.

Personal Capital Gains Tax on Homes

If you sell most types of investments (including property) for more than you paid for them, there may be capital gains tax to pay.