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
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.
Foreign Direct Investment Post Brexit bit.ly/2iizp47 Andy Crook's latest article in our UK Inward Investment publication
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole