Tax aspects of non-UK residents buying property in the UK

Tax aspects of non-UK residents buying property in the UK

More and more international investors are looking to buy property in the UK. This is being driven by positive returns and performance in the UK property and rentals market.

In recent years, HMRC have gradually increased the tax rules and reporting regimes in relation to property tax. This applies to both UK and non-UK resident investors.

To help investors navigate the main tax implications of owning UK property, we have produced a guide.

Our insightful overview covers the following and more:

• Income tax, including the Non-resident Landlord (NRL) scheme which many overseas landlords can be unaware of in our experience
• The Annual Tax on Enveloped Dwellings (ATED) regime
• The seemingly ever-changing Capital Gains Tax (CGT) rules
• Stamp Duty Land Tax (SDLT)
• Inheritance Tax (IHT) - one thing to highlight is that IHT does apply to all UK situs assets regardless of the domicile status of the owner
• The specific changes introduced with effect from April 2019 applying to both UK residential and commercial property.

Download the full copy of our guide here.

Get in touch

For further information regarding UK tax implications for non-UK residents purchasing and owning UK property, or to discuss any of the areas raised in the summary in more detail, please speak with your usual Azets contact or a member of our Tax team.