10 July 2012

Consultation on taxation of non-resident non-natural persons owning UK residential property

A consultation document on the proposed taxation of non-resident non-natural persons owning UK properties, recently issued by HM Treasury, has so far received little publicity.  

If and when accepted, however, the proposals will potentially result in more stamp duty land tax and capital gains tax revenues for the government. Final details will not be known until at least the draft legislation is published in the Autumn and then the Finance Bill next Spring.

Douglas Keel takes a closer look at the proposals and what action advisers and their clients may want to consider. Please click here to read the full note.