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I am currently Tier 2 visa holder with about 2 and a half years left to be eligible for ILR. I was wondering if anyone knows that I can buy properties in the UK and later sell them for a profit, I would, of course, be paying all the taxes and legal fees. Would something like this be allowed? It;s not exactly a business as I can buy properties for living in myself as well as buy-to-let. So I am not sure why something like this would not be allowed.
If I earn a profit from flipping properties will it mean that it's a business venture?

If you have cash in hand or in account or bank is ready to give you mortgage, then absolutely yes.

So how do you think you will disclose the income you earn from buy-to-let / renovate and resale / property development / etc. to HMRC?

I don't know the answer, hence the post in this forum.
What would I tell HRMC if I sold my personal house and got a profit on it? Is selling your own house illegal as well?

If you sold your own house and make a profit you pay capital gains tax.

Buy to let works on a different principle as you get rental income, which is taxable after a limited amount of expenses. Property development is usually in the form of a company (limited, partnership, etc).

And what about renovating a house by myself and then selling it for a profit. A house that I don't live in personally. I don't intend to let it but it's my second dwelling. Can I not own a holiday home as well as my own house? Can I not pay CGT or other taxes on the profit on the sale of the 2nd house?

Yes, you pay CGT and need to declare the profit to HMRC. This is not a buy to let though but a residential or specific mortgage for the type of property.

Thanks for your reply.
The point I was coming towards is that it I am within my rights as Tier 2 visa holder to buy as many houses as I like and sell them for any profit that I deem fit.
And I can do all of this without ever registering myself as a company.
As far as I know, you don't have to be even a UK resident to buy property here.


Buy-to-let is a separate issue and I will seek legal advise before I commit to it.

No, you don't have to be in the UK but then again, most overseas buyers don't have visa conditions. I would have to look at the policy guidance to understand if there would be an implication or perhaps Sushdmehta has more information.