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Rebalancing the tax landscape

The number of considerations non-UK resident individuals have to make before purchasing residential property has recently increased significantly, and it shows no signs of slowing down, says James Sedgley

13 February 2015

"Britain is an open country that welcomes investment from all over the world". This message from the government is clear; foreign wealth and investment in the UK remain a priority and key economic strategy. However while large-scale institutional foreign investment keeps favour, on the private wealth front, the government is tightening the reins on the non-UK resident individual - or so it would seem.

A change in the tide

It has long been established that non-UK residents are not subject to UK capital gains tax (CGT). But parliament began to break away from this model in 2013-14 with the introduction of the Annual Tax on Enveloped Dwellings (ATED) CGT charge. Since then this trend has continued and the government has been...

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