The UK Government has announced that with effect from April 2019, it intends to bring non-UK investors into scope for either capital gains tax (“CGT”) or corporation tax (“CT”) on any direct or indirect gains made in relation to investments in UK property.

Jersey and Guernsey have responded to the public consultations and liaised with HMRC and industry bodies with the aim of i) protecting the status of both UK and foreign exempt investors (such as pension and sovereign wealth funds) investing through Jersey or Guernsey and ii) ensuring that investment in UK property through Jersey and Guernsey vehicles – and in particular fund structures and the property unit trusts known as JPUTs and GPUTs – does not give rise to any double-tax.