Selling house via agent soon - need help with finance?

By Apper88
April 26, 2018 in Property

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Apper88

Posted April 26, 2018

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Posted April 26, 2018

I know I will probably make more from it if I sell it myself but I can't be dealing with the hassle right now, overwhelmed at work and wife is having a baby in 2 months so would like to get out of the flat we're in currently. However I was wondering how the money from the house would affect my income - does it count as income like my job? Will only the money I have made from when I bought it count as income? I'm not sure how it would work. I make around ?40,000 a year after tax currently so the money from selling the flat would cost me a lot in tax. Does anyone know more than me about this, or can point me to some good resources?

Thanks!

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