Andrew Goldstone and Katherine Forster (Mishcon de Reya) explain how the new rules work in practice
The government first announced its intention to extend the CGT regime to non-residents in the December 2013 Autumn Statement. The government stated then that the changes were intended to improve the fairness of the tax system by addressing the imbalance between the treatment of UK residents and non-residents disposing of UK residential property. After several months of consultation draft legislation was published on 15 December 2014. The new rules have now been enacted as part of FA 2015 which received royal assent on 26 March 2015 and apply to disposals from 6 April 2015. (References to legislation are to TCGA 1992 unless otherwise stated.)
