GM27

Could you please advise / point me to the relevant policies for the following: Purchasing a property, renovating it, then selling it for a profit. Under personal name. I already have a main (personal) residence so this would be a 2nd property. Would this be deemed as trading property or a capital gain? If deemed as trading property would this be subject to personal tax (20%/40%/45% tax incl the loss of personal tax allowance at 100K >) and is there a policy for allowable expenses?