Saturday February 29, 2020

Finance Bill: Investors to be hit with 20% vulture fund tax

Help-to-buy scheme will require only 70% mortgage

20th October, 2016

Today's Finance Bill contains a new regime targeting vulture funds, which will now have to deduct 20 per cent in tax when certain types of holdings are transferred to non-resident investors.

The change - published this afternoon - will apply to accounting periods beginning on or after January 1.

It comes after the government was met with intense lobbying from the property industry, who wanted to avoid the imposition of hefty taxes on these special tax-avoiding vehicles.

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