The following Corporation Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
Prior to April 2013, non-resident companies were typically not within the scope of UK corporation tax on chargeable gains, save in respect of capital assets which were used as part of a UK permanent establishment. This offered a particular incentive to non-resident companies investing in UK land. However, from April 2013, there has been a gradual erosion of this tax benefit.
The following legislative measures have diminished the attractiveness of investing in UK immovable property for non-resident persons:
Following consultations in March and November 2017, the Government introduced legislation in FA 2019, Sch 1, to further extend the scope of UK tax on non-residents holding interests in UK land (referred to in the remainder of this guidance note as the ‘FA19 NRCGT regime’).
The changes bring
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login