De-enveloping – Real Estate Aspects
The government has been trying to discourage the purchase and holding of UK residential property by non-UK using a company structure - historically for privacy reasons or to manage their exposure to UK inheritance tax (IHT) by making numerous changes to the taxation of UK residential property.
The process by which the property is extracted from the company is colloquially referred to as “de-enveloping”.
Please read the attached bulletin which focuses the Real Estate aspects of this process.
De-enveloping – Real Estate Aspects - 2.0 MB
Related in depth posts
HMRC has launched a consultation on a review of the government's principles for taxing trusts. Fiona Poole examines the review in more detail.
In a bid for ever-increasing transparency, the UK government intends to continue the trend with the introduction of a further beneficial ownership register.
Eesha Arora and Sophie Wettern offer some ideas for navigating intergenerational conflicts in wealthy families