Autumn Statement 2013

Download document:

Autumn Statement 2013 - .PDF file.

By Lara Murrell

Chancellor George Osborne delivered his Autumn Statement on 5 December 2013. While some of the policies had already been widely predicted, there were some surprises in the package announced. We set out a summary of the key policies that were announced:

As predicted, the chancellor introduced a Capital Gains Tax (CGT) charge on future gains for foreign owners of residential property in the UK from April 2015. The tax will be applicable on gains post 5 April 2015. It is not clear whether this charge is intended to apply solely to individuals or extend to companies and other non-natural persons as the latter are subject to the annual charge on UK property following the introduction of the Annual Tax on Enveloped Dwellings from 6 April 2013.

Clarity on these points will, we hope, be addressed through the consultation on how best to introduce the new CGT charge to be published in early 2014…

If you are registered and logged in to the site, click on the link below to read the rest of the Goodman Derrick briefing. If not, please register or sign in with your details below.