ARTICLE · 04 DECEMBER 2017

UK Real Estate Held By Non-Residents: Budget 2017 Changes

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The Chancellor of the Exchequer, Philip Hammond, presented his Autumn Budget to Parliament on 22nd November 2017.

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The Chancellor of the Exchequer, Philip Hammond, presented his Autumn Budget to Parliament on 22nd November 2017. One surprise announcement was the intention to bring UK commercial property gains made by non-residents within the charge to UK tax with effect from April 2019.

The Consultation document was released on the same day, setting out the main features of the proposals. The government's intention is to broaden the existing regime that applies to disposals of residential property to create a single capital gains tax regime for both UK commercial and residential property disposals by non-residents.

This briefing provides an overview of the measures proposed.

Direct Disposals of UK Real Estate

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