Query about HMRC considerations when selling one’s homeMake Text Bigger
This is a very simplistic question from a person with a non-business background.
If a person sells their home (their one and only property in which they live) how much of the profit goes to HMRC?
Is it the responsibility of the seller to notify HMRC of the sale or does the solicitor sort this aspect (the seller concerned is an employee earning around £20k per year gross with no mortgage on their home and would not be familiar with completing tax returns etc.)
Also, are there any other fees associated with selling one’s home that this person should be made aware of?
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