New Capital Gains Tax Regime for Overseas Investors in UK Property

Chancellor Osborne had announced in his Autumn Statement in Oct 2013 that there will be a capital gains tax on non-resident landlords, from 1st April 2015. This move was expected, as it was unfair that resident landlords were already subjected to capital gains taxes.

The UK Tax Authority has just published a consultation document, the link is here.
https://www.gov.uk/government/consultations/implementing-a-capital-gains-tax-charge-on-non-residents

Scope of Tax - Future gains from 1 April 2015
The gains will be charged to tax from 1 April 2015 onwards. Page 3 clearly highlights this, read the 5th paragraph onwards. This is good news for existing property owners.

We are still reading and digesting the document.

Stay tuned.