A 1% surcharge for non-residents is the latest proposed change to residential SDLT. Mark Fielden and David Coates (Kingston Smith) examine the detail and assess the impact.
Back in October 2018 the chancellor delivered his final Budget pre-Brexit. At the time given the expectation that Parliament’s focus would be on ensuring our smooth exit from the EU on 29 March it was no great surprise that there was very little in the way of ground-breaking tax changes. There was however perhaps one announcement which raised a few eyebrows in the property industry.
At a time when the UK is trying to position itself as an attractive jurisdiction for trade and investment the government announced that it was going to consult on the implementation of a surcharge on non-UK residents purchasing UK residential property in England and Northern Ireland. (Scotland and Wales are not included as...
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A 1% surcharge for non-residents is the latest proposed change to residential SDLT. Mark Fielden and David Coates (Kingston Smith) examine the detail and assess the impact.
Back in October 2018 the chancellor delivered his final Budget pre-Brexit. At the time given the expectation that Parliament’s focus would be on ensuring our smooth exit from the EU on 29 March it was no great surprise that there was very little in the way of ground-breaking tax changes. There was however perhaps one announcement which raised a few eyebrows in the property industry.
At a time when the UK is trying to position itself as an attractive jurisdiction for trade and investment the government announced that it was going to consult on the implementation of a surcharge on non-UK residents purchasing UK residential property in England and Northern Ireland. (Scotland and Wales are not included as...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
