From April 2020, Non-UK resident companies that carry on a UK property business or have other UK property income will be charged to Corporation Tax, rather than being charged to Income Tax as they are currently.

Budget 2018 sees revisions to the July 2018 draft legislation. These changes have various implications for non-resident companies including how they can utilize their losses, deductibility of finance costs, operation of the Non-resident landlord scheme and tax returns and compliance generally.

When?
April 2020

Action/Opportunity:
Property Lawyers can assist their Non-resident clients by ensuring that they are fully briefed by tax specialists on how these changes will impact the profitability of their businesses.