Rockwills Advisory : New Guidelines on Offshore Companies buying UK properties > GBP2 million

For those of you who encounter clients contemplating the purchase of UK property, you should note and alert your clients on the following:

  • When purchasing residential property in the UK, the stamp duty land tax (SLDT) has been raised from 5% to 7% for individuals and 15% for companies for UK residential property worth £2 million or more.
  • While no stamp duty has been imposed on sale of shares in overseas companies (that may be holding UK properties), the UK Government is contemplating an annual property tax on UK residential property worth £2 million or more that are owned by companies and capital gains tax on UK residential property owned by overseas companies.

 

Disclaimer:

This article is given purely for information drawn from other sources and Rockwills make no representations, express or implied, thereon and shall not be responsible for the accuracy of such information.

 

Source from https://docs.google.com/file/d/0B23AM6yWdT0nT3BldVRWV1lPeE0/edit

 

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Monday, April 1st, 2013 article

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