Is your UK property owned by a company?
If so, important tax changes have now been imposed following yesterday’s Budget.
From 20th March 2014, a residential property purchased by a “non-natural person” (usually a company) which is valued at £500,000.00 or more will be subject to Stamp Duty Land Tax (SDLT) equal to 15% of the price or (if the property is being gifted or sold at an undervalue) the actual value.
In addition, the government are introducing an annual tax on residential properties that are already owned by “non-natural persons” but which are valued in excess of £500,000.00.
Click here for further details. If you are affected by these changes, please contact us for advice.
