08 April, 2019 in Industry News

Changes to Capital Gains Tax rules for Non-Residents

Changes have recently been announced to the capital gains tax rules for non-residents.

From 6 April 2019, non-UK resident individuals who sell commercial property in the UK fall within the scope of UK capital gains tax (CGT) and may have a UK tax liability on a future sale.

Previously only residential properties were taxable in the UK for non-residents.

A return must be submitted to HMRC and the tax paid within 30 days of the sale.

Further detail can be found on the Gov.uk website

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