Strength in Numbers

Rupert Smith of Complete RPI gives an overview of the state of the buy-to-let market in the United Kingdom

Her Majesty’s Revenue & Customs - Deadline Looming

The UK government published draft legislation that detailed changes to Capital Gains Tax (CGT) on the sale of properties for overseas investors. The changes bring the UK in line with other global property markets and align non-resident property investors with UK resident homeowners.

From 6 April 2015, non-resident UK property investors will be charged on any gains made from the sale of their property of between 18 and 28 per cent, the same rate as UK resident homeowners. The UK government has deemed any UK property owner who spends less than 90 nights in their property to be a non-resident investor and CGT will also be levied on off-plan properties.

We have appointed an accredited firm of RICS registered surveyors and negotiated a special flat fee for all investors who have bought a UK property. This valuation will be a RICS Red Book Valuation Certificate suitable for the purposes of your future CGT calculations and submission to HMRC.

The changes mean that non-resident UK property owners will need to consider obtaining a valuation of their property.

To arrange a valuation simply click “Arrange a valuation” and complete the form on our website at completerpi.com

If you need to clarify any specific points relating to the changes to CGT legislation, we advise you to seek specialist tax advice from a UK tax professional.

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Click here to see the published article.