U.K. Is to Tax Gains Made by Non-Residents on Commercial and Residential Real Estate and Introduce Corporation Tax for Certain Non-Residents

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The U.K. has announced that, from April 2019, tax will be charged on gains made by non-residents on disposals of all types of UK real estate, extending existing rules that apply only to residential property. The proposals, which are subject to consultation, are:

..There is to be a single regime for disposals of interests in both residential and commercial property, introducing a new charge for gains on disposals of commercial property and extending the rules for residential property to indirect sales and disposals made by “widely-held” companies...

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