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Capital Gains Tax to be payable by non-resident individuals on disposals of UK residential property.

It has been announced that from April 2015 the disposal of residential property by non-residents will be subject to UK capital gains tax.

It is not yet clear how the proposed new rules will be implemented, but the Chancellor has stated that the charge will only apply to gains arising after April 2015. It is expected therefore, that valuations as at April 2015 will be required for properties held by non-resident individuals.

Get in touch with us if you feel the rules might apply to you or indeed if you are not sure and just want to get our advice.

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