But what I do not understand is if overseas residents (individuals or companies) acquire property assets in the UK and then dispose of these assets at a later stage they are not subjected to Capital Gains Tax.
Let me be clear, if a person does not live in the UK and (or to use the technical term is a non-resident) then they can acquire and dispose of assets in the UK without being subject to Capital Gains Tax. This is a privilege not available to you and me. No other country offers these benefits and we estimate that billions of £s of tax revenue is lost. Why can’t this loophole be closed? This will produce substantial tax revenue and the savings could be reallocated to reduce the tax burden to the rest of us.
What is your opinion on these matters?
By Henry Ejdelbaum