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Non UK residents owning UK residential property: a summary of the CGT changes

The UK Government has now confirmed that UK Capital Gains Tax (CGT) will be extended to residential property owning non UK residents (NR) from April 2015.

UK residential property only

The new, extended CGT will apply to UK residential property only and will include land that is part of the garden or grounds of a residential building. Property suitable for residential use will be affected, even if not actually being used as a residence. More…