On 25 July 2024, the Government of Gibraltar published draft legislation taxing profits derived from disposals of interest in Gibraltar residential property, a measure announced in Minister Feetham's Budget address on 2 July 2024.

In the 2012 UK budget the government announced proposed changes to the taxation of UK residential property held by offshore entities.

Few investment managers would disagree that the current state of affairs has translated into one of the most challenging periods in the history of the investment industry.