Rules requiring non-residents in the UK to pay Capital Gains Tax also known as (CGT) on sales of property came into effect on 6 April 2015.
Foreign investors have not had to pay CGT when selling property that is not their main residence. The UK Treasury and Her Majesty’s Revenue and Customs (HMRC) first published draft legislation in December 2014.
The change in legislation affects non-resident individuals, trustees, partners and non-resident companies who sell or dispose of UK residential property.
It applies to all sales of "property used or suitable for use as a dwelling", which includes properties in the process of being constructed or adapted for use, such as off-plan buys.
A market valuation report can only be carried out by registered valuers.
To find out more and book a valuation or contact us on 0203 621 8881.
So you’re thinking about selling or letting your home? Or simply interested in finding out how much its worth?
Our instant valuation is based on average prices within the area (sold/let properties). Bare in mind, this does not include any improvements or renovations you may have carried out.