UK and International Tax news
High Value Residential Property
Thursday 13th December 2012
HM Treasury has recently issued a summary of responses to the May 2012 condoc “Ensuring the fair taxation of residential property transactions” which proposed the introduction of an annual charge on residential properties valued over £2m owned by non natural persons [NNPs] and the extension of capital gains tax to disposals by NNPs of such high value properties. Our summary of the proposed changes is included in the attached paper Changes To The Taxation Of UK Residential Property
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