Underneath the headline points, the Budget contained a number of measures designed to fulfil the Chancellor’s objective of encouraging growth and investment. There was broadly good news for those investing in UK real estate....more
3/20/2023
/ Budgets ,
HMRC ,
Interest Rates ,
Investment Funds ,
Real Estate Investments ,
Real Estate Market ,
REIT ,
Sovereign Wealth Funds ,
Spring Statement ,
Tax Deductions ,
Tax Rates ,
UK ,
Value-Added Tax (VAT)
Some of the most commonly used trust structures in UK real estate ownership are Jersey Property Unit Trusts (JPUTs). It has become clear recently, following confirmation from HMRC, and HMRC now changing its published...more
Unexpectedly, it is likely the changes to the Luxembourg-UK double tax treaty will not be effective until 2024 at the earliest. Where that is the case, some Luxembourg investors in UK property rich entities will have another...more
Summary -
Some key measures for businesses in this sector were:
..Cancellation of the planned increase in the rate of corporation tax from 19% to 25% from April 2023. The rate will remain at 19%.
..From November...more
The UK government is consulting on bringing overseas sovereign investors in UK real estate within the scope of UK direct tax from April 2024 as part of measures amending the scope of the sovereign immunity tax exemption. ...more
The UK and Luxembourg have renegotiated their double tax treaty. The new treaty has been published, but is not yet in force. Significant changes have been made to the capital gains tax article amongst other provisions....more
The government is proposing to change the way SDLT is calculated on mixed-property purchases (where residential and non-residential elements are acquired) and on the scope of multiple dwellings relief (MDR). It is offering a...more
This is likely to be a key reflection when considering the details issued in July about the new UK holding company regime for “qualifying asset holding companies” (QAHCs). The new regime is intended to make the UK more...more
This briefing summarises the key announcements in the Spring Budget from a funds perspective: including the UK funds review, the SDLT surcharge for corporate and individual non-resident purchasers of UK residential property...more
3/18/2020
/ Federal Budget ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Fund Managers ,
Holding Companies ,
Investment Funds ,
OFR ,
Private Placements ,
Real Estate Investments ,
Residential Property Owners ,
Surcharges ,
Tax Reform ,
UCITS ,
UK ,
Value-Added Tax (VAT)
In contrast to recent years it has been a quiet Budget for real estate tax. In particular, there was no big announcement of any further levelling of the playing field between resident and non-resident investors in UK land:...more