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Any calculators available?


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Hi all

Im a surveyor by profession but totally unfamiliar when it comes to tax. I’m looking at the viability of buying and flipping properties as that is where I feel my best expertise lies. 

I know my wage, I know the capital I can put in but there’s so many taxes I’m wondering if there’s any spreadsheets out there that will churn out some basic numbers. 

Any advise will be greatly appreciated!

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  • 1 month later...

As I understand it if you flip properties then the profit you make is added to your other income and taxed as income. It is not a capital gain its income. Somebody correct me if I'm wrong. So if you make a £20000 profit selling a house taking into consideration everything you've spent on it, then you add this to your day job income and are taxed accordingly.

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