With effect from 6 April 2015, a disposal of UK residential property is subject to Capital Gains Tax (“CGT”). The Non Resident CGT charge applies to the element of the capital gain which has accrued after 5 April 2015 and there are a number of ways to calculate this. Full details are set out in our Briefing Note entitled CGT for Non-Residents: UK Residential Property and outlines the implications for reporting and paying CGT. It is important to note that the provision applies to all disposals and, therefore would include, for example, a gift of UK residential property as well as a sale.
Read a copy of our briefing note entitled “Reporting and paying CGT for non-residents: UK Residential Property” or contact a member of our Wealth Planning team to find out more.
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