On 6th April 2015, the UK introduced Capital Gains Tax (CGT) for non-residents selling a UK residential property.
If you own UK residential property, you may be affected if you are a:
If you sell or dispose of a UK residential property after 5th April 2015, you must advise the HM Revenue and Customs (HMRC) within 30 days of conveyance.
You must report within this deadline even if:
The calculations are complex and it may be likely that you will need to seek UK Tax Advice.
You may also have UK tax owing on the sale which is payable within the 30 day period.
If you believe that you may be affected by this situation, please contact us for further advice. We have contacts in the UK that may be able to assist in the process.