The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations, SI 2020/315, make amendments to the legislation which extended the non-resident CGT charge to gains on non-residential UK property with effect from April 2019. The main purpose of the amendments is to ensure that exempt investors such as pension funds will not lose the benefit of the exemption when investing in UK property-rich collective investment vehicles.
The Regulations come into force on 10 April 2020 and have effect in relation to most disposals made on or after 6 April 2019, with certain changes affecting elections having effect on or after 10 April 2020.
HMRC consulted on a draft of the regulations during September and October 2019.
The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations, SI 2020/315, make amendments to the legislation which extended the non-resident CGT charge to gains on non-residential UK property with effect from April 2019. The main purpose of the amendments is to ensure that exempt investors such as pension funds will not lose the benefit of the exemption when investing in UK property-rich collective investment vehicles.
The Regulations come into force on 10 April 2020 and have effect in relation to most disposals made on or after 6 April 2019, with certain changes affecting elections having effect on or after 10 April 2020.
HMRC consulted on a draft of the regulations during September and October 2019.
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")