The diverted profits tax (DPT) legislation isn’t wholly clear on the point, but HMRC’s interim guidance makes it very clear that the DPT is intended to catch real estate transactions. Although the guidance examples focus on transactions which move existing UK property ownership overseas, the legislation is not so restricted. Property owners and developers will therefore need to review their structures and pricing arrangements to consider the impact of the DPT.
The diverted profits tax (DPT) legislation isn’t wholly clear on the point, but HMRC’s interim guidance makes it very clear that the DPT is intended to catch real estate transactions. Although the guidance examples focus on transactions which move existing UK property ownership overseas, the legislation is not so restricted. Property owners and developers will therefore need to review their structures and pricing arrangements to consider the impact of the DPT.
The diverted profits tax (DPT) legislation isn’t wholly clear on the point, but HMRC’s interim guidance makes it very clear that the DPT is intended to catch real estate transactions. Although the guidance examples focus on transactions which move existing UK property ownership overseas, the legislation is not so restricted. Property owners and developers will therefore need to review their structures and pricing arrangements to consider the impact of the DPT.