X
X
Where did you hear about us?
The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

The Climate Gets Colder for Property Investors

As the new year brings biting temperatures to those seeking to minimise tax, it also promises fresh teeth in the form of HMRC's increased determination to block tax loopholes - not least for those investing in property. Stacy Eden gives some tips on how t

The 2012 Budget saw the Chancellor continue to clamp down on tax avoidance by overseas property investors - with special emphasis on investments by 'non-natural' persons, including companies and partnerships with a corporate member.

Recent developments include changes to Stamp Duty Land Tax (SDLT) for residential properties with particular focus on those owned by a 'non-natural person'. From March 21 last year, an SDLT rate of 7% was due on UK residential properties acquired for over £2m, as part of the 2012 Budget. The Chancellor also introduced 15% SDLT for properties acquired by 'non-natural' persons.

Following consultation, in December 2012 the Government published draft clauses for the 2013 Finance Bill and issued a paper, 'Ensuring the fair taxation of residential property transactions'. As anticipated, in a further attempt to clamp down on tax avoidance by overseas property investors, these proposed the introduction of Capital Gains Tax and annual charges.

Want the full article?

subscribe