Disposing of UK commercial property

Historically, the tax position for investors in UK commercial property has been relatively stable - unlike most other major jurisdictions, the UK did not exercise its full taxing rights where non-residents disposed of UK commercial property. However, from April 2019, the UK will tax non-residents on gains. Find out more in respect of these changes, and many other areas relating to the disposal of UK commercial property via our insights and resources.

Robert Walker • Partner • UK Real Estate Tax Network Leader

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Real Estate

May 22nd 2018 05:37 PM

Taxing gains made by non-residents on UK immovable property

In the 2017 Autumn Budget, the government announced that from April 2019 UK tax will be charged on capital gains made by non-residents on direct and certain indirect disposals of all types of UK immovable property, extending existing rules that apply only to residential property.

Important changes affecting non-residents disposing of interests in UK property

New rules take effect from 6 April 2019 extending the scope of UK tax on gains.

These changes also give rise to new notification/filing obligations.