Since the 6th April 2015, overseas investors have been liable for capital gains tax on any London investment properties. In essence, HMRC will now treat overseas investors in the same way as domicled investors. This will only apply on capital growth made after the 6th April 2015 though. It is important therefore that you have a valuation conducted as soon as possible that reflects the real value of your investment on that date, if indeed your investment is older. This is where we can help.
Here is some more information about Capital Gains Tax:
- Applies to all overseas investors
- This tax will only apply to gains made after the 6th April 2015
- The tax percentage varies from 18% and 28% on the gain made after 6th April
- The tax is payable within 30 days of the sale of a property
If you held a property prior to the 6th April 2015, then you are advised to obtain a valuation figure from us at the soonest opportunity to ensure that you are prepared for the payment Capital Gains Tax and therefore have proof of a re-based figure when needed.
Please do not hesitate to get in touch and we’d be delighted to assist you.