Foreign property owners to pay capital gains tax?
The Chancellor is apparently considering charging capital gains tax (CGT) on foreign owners of UK property.
Currently UK residents have to pay CGT if they make a profit when reselling any investment property; while non-resident owners are exempt from CGT. Under the proposals, which the Chancellor is said to be “actively investigating”, overseas buyers would become liable for CGT, as they are in many other countries throughout Europe.
Date: 14th November, 2013
Articles from this Author
20th July, 2017
Uncertain times for winding up transactions
3rd July, 2017
9th June, 2017
27th April, 2017
Government places Making Tax Digital legislation on hold
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole