Will foreign investors have to pay Capital Gains Tax?

News at Eden Harper | 25/11/2010


Could foreigners end up being subject to Capital Gains Tax (CGT)? Potentially, under ideas being floated by the Chancellor, George Osborne. Soaring property prices are sparking fears of a housing bubble in Central London - in some areas such as Mayfair, Kensington and Chelsea; the average home is worth about 30 times the average local salary. 

Now the Deputy Prime Minister Nick Clegg’s said that sales of expensive foreign-owned properties will incur a higher rate of CGT. His comments come after rumours a couple of weeks ago that the move was likely to be considered were reported by major news outlets. Nick Clegg said that the Treasury was likely to include the policy in the autumn statement next month and that the levy shouldn’t be seen as a replacement for the Liberal Democrat’s objective of a mansion tax on properties worth more than £2 million.

The Guardian

Our offices are now open reduced hours 10.00am - 4.00pm weekdays, with front office staff working on rota to reduce numbers in the office at any one time. Property Management are still predominantly working from home. We are able to carry out viewings and deal with enquiries, subject to health and safety protocols being strictly followed. Please visit our contact page or Property Management section to email or phone the appropriate department. We will of course endeavour to respond to any messages as quickly as possible. If you wish to visit our offices, then please call to make an appointment first and all visitiors will be expected to wear a facemask and gloves. Thank you for your cooperation and stay safe.
Covid 19 Information Hide