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Non Residents CGT charge from 5 April 2015
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This was the subject of another " non residents CGT consultation" by HMRC. In brief: Quote:2.11 The extended CGT charge for a non-resident disposing of UK residential property will not apply to the amount of gain relating to periods prior to April 2015.The government will allow either rebasing to 5 April 2015 or a time-apportionment of the whole gain, in most cases. Individuals and companies will need to report to HMRC within 30 days of the date of completion that a disposal has been made and make a payment of the tax that is due. Where a person has an existing relationship with HMRC, they will be able to make a payment as part of their self-assessment return instead. Full consultation conclusion is avaiable hereQuote:Next steps
1.7. Draft legislation will be published for consultation as part of the draft Finance Bill 2015. The government recognises that the extension of CGT to non-residents is a significant reform that will affect a range of people, and intends to continue to engage with stakeholders on the draft legislation and the details of how the policy will apply. Hope you find the link helpful. Anyone have any other useful info on this as it develops feel free to post a rely below.
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Tax Support UK Forum
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UK Taxes
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Capital Gains Tax
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Non Residents CGT charge from 5 April 2015
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