Tax measures affecting UK residential property
Tax measures on UK residential property - 250.3 KB
Following the introduction of new tax rules in 2013 relating to UK residential property over £2 million owned by non-natural persons, the 2014 UK Budget has introduced a number of further proposals to extend the scope of these rules to lower value properties.
Three new tax measures were introduced by the Finance Act 2013 affecting UK residential property over £2 million owned by non-natural persons. The aim of these measures was to counter perceived stamp duty avoidance by offshore vehicles and to encourage those in “envelopes” to “de-envelope”.
In the light of the apparent success of these new tax measures, the UK Government has now proposed a number of further changes to the tax regime relating to the ownership of residential properties by non-natural persons as well as capital gains tax on properties owned by non-residents, including non-resident individuals.
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