Proposed tax changes for non-resident companies
Currently non-UK resident companies pay income tax on rental profits from UK property. However, the government has now introduced new rules limiting loss offset profits on over £5 million and potentially restricting relief for interest charges over £2 million. These rules only apply for corporation tax and hence not to non-UK property letting companies. This is perceived as inequitable and hence HMRC is consulting on proposals to bring such rental profits into the corporation tax regime and so apply the new rules.
Date: 21st April, 2017
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