A closer look — changes and proposals to the taxation of UK residential property
By Anthony Thompson
In this note, we review the Budget measures. We also outline the proposals for the taxation of gains made by non-residents disposing of UK residential property and consider how this new capital gains tax (CGT) charge may inter-relate with the annual tax on enveloped dwellings (ATED)-related CGT charge introduced in April 2013.
Surprise measures to increase the scope of certain taxes on higher-value residential property acquired by and/or held through corporate envelopes were announced by the chancellor in the UK Budget on 19 March 2014. The draft Finance Bill 2014 has since been published and provides some clarification of these proposed changes.
In addition, at the end of March, the UK Treasury published its promised consultation on the introduction of a CGT charge on non-residents who dispose of UK residential property. This is to take effect from 1 April 2015…
Click on the link below to read the rest of the Wragge Lawrence Graham & Co briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Wragge Lawrence Graham & Co
News from The Lawyer
Briefings from Wragge Lawrence Graham & Co
The case of FOA (Kaltoft) v Billund (C-354/13) is the first time the Court of Justice of the European Union (CJEU) has considered issues concerning obesity-based discrimination. More specifically, it has looked at whether obesity can be classed as a ‘disability’ under the Equal Treatment Directive.
Wragge Lawrence Graham & Co’s dedicated insolvency litigation team brings you its monthly update on the issues affecting the insolvency and fraud investigation industry.