HMRC publishes guidance to Non-UK residents on Capital Gains tax
14 April 2015
On 18 March 2015, and following on from the Personal Tax Guidance previously issued, HMRC published FAQs on Capital Gains Tax for non-UK residents who sell or otherwise dispose of UK residential property.
You can read HMRC's guidance notes by following this link. It is strongly recommended that professional advice is sought on your specific circumstances rather than relying on general guidelines.
The scope of UK capital gains tax on residential properties located in the UK has been extended progressively over the past two years. In the past the London property market has been popular with overseas investors for many reasons, not least of which was the strong possibility of achieving a tax free capital gain. Increases in stamp duty and the imposition of capital gains for non-UK residents may dampen the London property market. However, geo political unrest, a safe currency and robust legal system will continue to be attractive positives for many non-UK resident investors.
« view all news