Kirsten Prichard Jones and Rhiannon Kinghall Were (Macfarlanes) examine what’s proposed.
The government has announced that from April 2019 non-residents will be subject to UK tax on their gains arising from the disposal of UK real estate bringing to an end a major advantage enjoyed by overseas investors. The change will align the UK with other major jurisdictions and is intended to level the playing field between domestic and non-resident investors. This article explains the key features of the measure and some of the issues arising from the proposals.
Overview of changes
The long-established exclusion from CGT for non-residents had already been eroded by the introduction in 2015 of CGT for non-resident owners of residential property. Importantly this regime included exemptions for widely held vehicles as well as certain asset classes (e.g. student accommodation). Although many aspects of the new regime are subject to consultation...
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Kirsten Prichard Jones and Rhiannon Kinghall Were (Macfarlanes) examine what’s proposed.
The government has announced that from April 2019 non-residents will be subject to UK tax on their gains arising from the disposal of UK real estate bringing to an end a major advantage enjoyed by overseas investors. The change will align the UK with other major jurisdictions and is intended to level the playing field between domestic and non-resident investors. This article explains the key features of the measure and some of the issues arising from the proposals.
Overview of changes
The long-established exclusion from CGT for non-residents had already been eroded by the introduction in 2015 of CGT for non-resident owners of residential property. Importantly this regime included exemptions for widely held vehicles as well as certain asset classes (e.g. student accommodation). Although many aspects of the new regime are subject to consultation...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
