ICAEW Logo
 

Capital Gains Tax

02 September 2013
Related to the measures above, Budget 2012 introduced a Capital Gains Tax charge on non-resident non-natural persons which dispose of UK residential property that is worth more than £2 million. 

The charge will apply to gains on disposals on or after 6 April 2013.Increases in the value of property before 6 April 2013 will not be subject to Capital Gains Tax under this measure.Liability to Capital Gains Tax will be closely aligned with liability to the ARPT on the property disposed of.
 
Following consultation, the Government has decided that, for consistency, Capital Gains Tax will also apply to non-natural persons that are resident in the UK in respect of gains built up on or after 6 April 2013.
 
The draft legislation published today (31 January 2013) therefore contains provisions that include UK resident companies within the scope of the charge. The draft legislation provides that Corporation Tax will apply to the part of any gain built up before 6 April 2013, with the new Capital Gains Tax charge applying only to the gain built up on or after 6 April 2013.
 
Nathan Evans Ltd News
 
 
Enquiry Form
   
16 Cambrian Way
Marshfield
Cardiff
CF3 2WB
Wales

info@nathanevansltd.co.uk
01633 681 467
07814 594 517
Resources
Mon, 11 Nov 2019 23:00:08 GMT
National emergency would have been declared ‘if this happened in Surrey’, says Corbyn
Mon, 11 Nov 2019 05:00:29 GMT
An FT investigation reveals Russia is an important destination for some of the regime’s money

Registered in England and Wales No: 7090510. VAT No: 983 9273 65 | Directors Nathan Evans LLB ACA & Suzanne Evans BA ACA.

Website by IT Pie – web design Cardiff