30 SECOND TAX SPEED READ - 6TH APRIL 2019, CGT CHANGES - PROPERTY VALUATIONS RECOMMENDED
As of 6thApril 2019, the UK Capital Gains Tax regime has been extended for Non-residents to include the sale of UK Commercial Property. All such property will be ‘rebased’, to its market value as at April 2019. It is this value which will form the basis from which to calculate subsequent capital gains when property is sold.
It is advisable to have the property valued so that its rebased CGT ‘base cost’ can be easily evidenced in the future.
Effective from 6thApril 2019.
Contact clients and recommend valuations.