China Consulting Consortium International Business Advisers, International Accountants and Certified Auditors Online Company Incorporation
The Group
Overseas Properties Investment

UK

Foreign property owners are subject to following taxes in the UK


Taxes

Individual  owner

Company owner

Capital Gain Tax

Effective from 6 April 2015, the minimum tax rate is 18%, up to 28%

Effective from 6 April 2015, the maximum corporate tax rate is 20%, the maximum tax rate for trustee would be 28%

Annual Tax on expensive properties

 

As of 1 April 2015, a property with a value of £1 million or more will be taxable. From 1 April 2016 onwards, a property with a value of £500,000 or more will be taxable

Stamp Duty Land Tax

The current SDLT threshold is £125,000 for residential properties, SDLT rate from 2% to 12%

SDLT is charged at 15% on residential properties costing more than £500,000

Inheritance Tax

The rate of Inheritance Tax is 40% on anything above £325,000

Effective from April 2017, companies are subject to Inheritance Tax

 

UK Tax Update 2016/17

Non-resident Landlord Scheme and Non-resident UK tax return

In the UK a landlord who lives abroad for more than 6 months of the year must pay tax (non-resident landlord tax) on any income they get from renting out property in the UK.  The non-resident landlord scheme allows individuals and companies to receive rent without having tax deductions (20% of net rental income receive each quarter) at source.  Our office can assist to register under the non-resident landlord scheme with the UK tax authority (HMRC). Our office can also assist on preparation of income statement for rental income and preparation of non-resident UK tax return.


Ireland and Greece


Doing business in overseas is essential to work with local professionals who are familiar with local laws and regulations, with our extensive network of local professionals in Europe (such as Ireland and Greece) we can act as a guide to investors looking to invest in Europe.