Essentials: CGT liability for non-UK residents disposing of UK land

21 Mar 2019

Non-UK residents will be pulled into the capital gains tax (CGT) regime for the first time this April if they dispose of UK land and property. Nimesh Shah, partner at Blick Rothenberg, examines the key tax compliance issues and how the rules are changing

Finance Act 2019 introduced widespread changes to the taxation of non-UK residents disposing of UK land. Currently, non-UK residents are only taxed on disposals of residential property, but from 6 April 2019, all UK land (including commercial property) will come within the scope of UK taxation.

In addition, non-UK residents will also be subject to UK tax on the disposal of assets that derive at least 75% of its value from UK land, so called ‘property-rich’ companies.

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