Since 2015, overseas investors, like UK investors, have been liable for capital gains tax on any UK investment properties. In essence, HMRC will now treat overseas investors in the same way as domiciled investors. This will only apply on capital growth made after the 6th April 2015. It is important therefore that you have the correct valuation conducted if you are selling a London property that you have owned prior to this date, to ensure you only pay tax on any capital growth since 5th April 2015.
This is where we can help:
Here is some more information about Capital Gains Tax:
- Now also applies to all overseas investors
- This tax will only apply to gains made after the 6th April 2015 for overseas investors
- The tax percentage varies from 18% and 28% dependant on your tax position
- 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 of Capital Gains Tax and therefore have proof of a re-based figure when needed.
Please do not hesitate to get in touch, we’d be delighted to assist you!