CGT plans for foreign property owners

22nd November 2013

Plans are being drawn up by ministers to hit foreign owners of UK property with capital gains tax.

Nick Clegg said at his monthly press conference: "We certainly need to make sure that people who invest very large amounts of money into property in central London locations pay their fair share of tax on those transactions. That is why we are looking at options like differential applications of capital gains tax to those kind of transactions." A senior coalition adviser added: "There are several ways to raise taxes on wealthy properties, but this is the only one under consideration at the moment."

Source:  Daily Mail