Non Resident Capital Gains Tax

Non Resident Capital Gains Tax

Capital Gains Tax (CGT) rules for non-residents has changed dramatically over the past few years and this can often cause a lot of confusion for individuals. As such, it is important to ensure you stay up to date and take the correct advice to get your tax position correct.

Most common changes

Prior to April 2015, non-residents of the UK would pay no CGT upon the disposal of UK based assets. This changed when HM Revenue and Customs brought UK residential property into the scope of UK CGT. Therefore many individuals who previously had no tax exposure here when disposing assets are now caught within UK tax.

Not only this, but the rates and reporting requirements have changed with residential properties still being assessed to tax of up to 28%. There are also additional Non-resident capital gains tax declarations that are required soon after completion which many will not be aware of.

Therefore it is important to choose the correct tax advisers to ensure you remain compliant with your UK tax reporting requirements and that you stay on top of your declarations and pay the correct amount of tax.

Planning for the future

Not only is it vital to ensure you maintain up to date with changes in tax law and rules, but it will be useful to plan ahead in order to minimise any possible UK tax exposure you may have.

It is well worth speaking with one of our experts to see how best to minimise your UK Capital Gains Tax exposure to maximise what you and your family can realise on any transactions in the UK.

Why choose Wisteria?

We have a dedicated team of UK taxation experts specialising in property taxation who are well experienced with the UK obligations for non-UK residents. With over 200 non-resident landlord individual clients, we ensure all clients tax affairs are kept up to date and any declarations are submitted in a timely manner.

Why not call us now or fill in the call back request below and get:

  • A free initial consultation and no-obligation quote
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  • Quick turnaround
  • Access to experienced tax experts
  • On-going assistance with all you tax needs

Require help with Non Resident Capital Gains Tax?

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