Wednesday January 22, 2020

More capital punishment for investors?

Capital gains tax is set to hit non-resident property investors in Britain, and this has stirred up quite a debate among property professionals, writes David Johnson.

9th March, 2014

Owners of non-primary property in Britain have just over a year to prepare for a dramatic change in their tax position.

In his 2013 autumn statement, British chancellor George Osborne announced an extension of Capital Gains Tax to apply to all future gains made by non-resident owners when they sell a residential property.

The general consensus among the economic analysts is that CGT will only take into consideration gains made from April 2015 onwards.

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