2022/N°4/Diritto tributario internazionale e dell'UE/Investing in the UK real estate: tax aspects and planning considerations
Gabriele Schiavone (2022) Investing in the UK real estate: tax aspects and planning considerations. Novità fiscali (4) . pp. 207-214 ISSN 2235-4573

Diritto tributario internazionale e dell'UE

04/2022

Investing in the UK real estate: tax aspects and planning considerations

After some years of continuing reforms and amendments to various aspects of property taxation, this article summaries up the most important tax rules, privileging a non-resident investor perspective

Gabriele Schiavone
Gabriele Schiavone

Founder, ACA, BFP, AIAI, CFE Tax Advisers Europe
SGS & Partners, London

This article outlines the main tax aspects when investing in the UK real estate sector, privileging a non-resident investor point of view. Once having set forth some basic preliminary aspects of property taxation, assuming mainly the point of view of an investor (and not of a trader), the article deals with the main tax aspects of letting and disposing properties for individuals and corporate bodies. For individuals, the article explains some available reliefs and special regimes applicable to non-resident investors when letting and disposing properties (for instance, NRL scheme and NRCGT, including for the last one the extension of taxation to the transfer of “property rich” companies shares). For companies, once having dealt with general rules on letting, the article focuses on, inter alia, allowable expenses, the effects of switching for non-resident corporate investors for Income to Corporation Tax provisions and new restrictions using corporate and offshore vehicles. Transfer and Inheritance taxes have been also object of analysis from mainly a nonresident point of view. Eventually, the article provides some synthetic tax planning considerations, highlighting the increasing difficulties in the scenario modified by new rules.

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