AB17: Taxing non-residents on UK property marks a move | KPMG | UK

Autumn Budget 2017: Taxing non-residents on UK property marks a pivotal move

AB17: Taxing non-residents on UK property marks a move

Andy Pyle said that “At first glance, the Budget does not appear to hold masses for the commercial real estate investor"

1000

Also on KPMG.com

Andy Pyle, UK Head of Real Estate at KPMG UK, said:

“At first glance, the Budget does not appear to hold masses for the commercial real estate investor, but nestling alongside mentions of increased infrastructure spend and further attention being placed on technology, one measure stood out as being pivotal.
“From April 2019, non-residents will be taxed in the UK on their UK property investment gains. This is a real game changer, particularly given how much of the UK commercial property sector is owned by overseas investors – especially in London. In fact, reports suggest that 58% of real estate transactions this year have been the result of cross-border investors.”

                                                    -ENDS-

Follow us on twitter: @kpmguk #AutumnBudget
www.kpmg.com/uk/autumnbudget2017

For further information please contact:
KPMG Press office
Tel: +44 (0) 207 694 8773

Simon Wilson, KPMG Corporate Communications
Mobile: 07785373397
Email: simon.wilson@kpmg.co.uk

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff. The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.


 

Connect with us

 

Request for proposal

 

Submit