Some Clarity Provided On Taxation of High Value UK Residential Property
The UK Government has issued a consultation paper setting out its proposed changes to the acquisition and ownership of high value UK residential property in more detail.
We previously reported the proposed changes in Fedelta News back in April.
It is now known that the annual levy will apply to companies but not trusts and that the annual levy and CGT charges will only apply to residential properties worth more than £2 million.
We shall release further particulars as they emerge over the coming weeks as the implications of the consultation document become clear.
If you would like to discuss a specific situation with a director of Fedelta, then please contact Stephen Colderwood who will navigate your request.
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