Tax News
Non resident Investors in UK Property – changes from 6 April 2019
I note that you have an investment in Property Moose Investments and want to highlight a recent change in relation to the taxation of commercial property interests effective 6 April 2019. From that date Offshore Funds and REITS and institutions who currently hold interests in UK property are brought in to the scope of UK tax.
Non residents will now need to submit a Non Resident Capital Gains Tax (NRCGT) Return and pay any tax due within 30 days of making a disposal. Penalties may apply for non compliance.
The market value at 5 April 2019 or the cost can be used as a base. So please keep a note of the value at 5 April 2019.