Ensuring the fair taxation of residential property transactions - CIOT comments
The CIOT comments, sent to HM Treasury on 8 August 2012, on the consultation covering the Budget announcements on (i) an annual charge on residential properties valued over £2m by certain non-natural persons and (ii) the extension of CGT to the disposal by certain non-resident non-natural persons of residential property or the envelopes in which they are held.
The consultation will explore the proposed details of the new annual charge, inviting responses in particular about who should and should not be included, and the impact on those affected. The consultation will also look at issues regarding the valuation of properties for the purpose of the new measures.
Our submission, appendices and the consultation document are avaiable here in Adobe (pdf) format.
8 August 2012