From April 2019 corporate non-resident landlords must report their capital gains on the disposal of UK property under corporation tax. Their UK rental income is remains subject to income tax. Many will require two or three different returns may be required for the 2019/20 tax year.
Non-resident capital gains tax (NRCGT) applies to:
- Direct disposals of UK land and property, i.e. both commercial and residential.
- From April 2019, NRCGT also applies to indirect disposal of an interest in a 'UK property rich' entity.
- See Non-resident capital gains tax (NRCGT)
The income tax Non-Resident Landlord (NRL) scheme applies to:
- Rental income received by non-resident persons
- From April 2020, corporate NRL's must to report their UK rental income under corporation tax instead of income tax.
- See Non-Resident Landlord scheme
The Annual Tax Charge on Enveloped Dwellings (ATED):
- Is an annual charge on UK dwellings held by a non-natural person.
- From April 2019 ATED CGT is abolished.
- See Annual Tax Charge on Enveloped Dwellings (ATED)
UK Property FAQS
- How is UK property taxed?
- What are the different taxes that apply to UK property?
- Who is taxed in what way?
- When are returns due?
See Different ways of taxing UK property, the practical summary guide of this extremely complex area of tax.
