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Major Changes in Property Tax

In the last five years the UK government has introduced over 20 significant tax changes aimed at residential property. In this part of the presentation I will explore the six most notable changes namely:

  • The introduction of the annual tax on enveloped dwellings
  • The introduction of graduated rates for Stamp Duty Land Tax with higher rates for properties owned through companies
  • The increased SDLT for 2nd properties
  • Non-resident capital gains tax
  • Income Tax restrictions for mortgage interest from rental income paid to individuals
  • The new Inheritance tax rules which make it very difficult to avoid these taxes.

I will consider the impact on individual investors of these rules, the potential planning to mitigate  and will end by discussing some important considerations where US citizens purchase property.

 

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