Taxing gains made by non-residents on UK immovable property in Collective Investment Schemes
This technical note explains the application of the non-resident capital gains rules to collective investment vehicles and investors in those vehicles.
The Finance Bill 2018-19 introduced new rules on taxation of chargeable gains arising from disposals of UK land by non-residents.
This technical note explains the operation of the new Schedule 5AAA to the Taxation of Chargeable Gains Act 1992, which applies mainly to non-UK resident collective investment vehicles investing in UK land.
It also contains guidance on reporting by collective investment vehicles making the exemption for exemption under paragraph 12 of Schedule 5AAA.
A tax information and impact note on changes to taxing gains made by non-residents on UK immovable property was published for Budget 2018.