A further reporting requirement has been imposed on non UK residents with effect from 6 April 2019.

It has been the case, since 6 April 2015, that a non UK resident disposing of UK residential property has been required to file a return and pay any tax liability within 30 days of sale.

From the 6 April 2019, these rules are extended to include ALL sales of UK land and property i.e. commercial property by a non UK resident. The same rules apply in that the gain has to be calculated , reported and any tax paid over to HMRC within 30 days of the disposal. In certain circumstances these rules can also include disposals by non UK residents of shares in companies that hold UK land and property.

It should be noted that only the increase in value from 6 April 2019 to the date of sale will be subject to tax.

Individuals affected by these rules need to be aware that the return and payment of the tax has to be made even if the person already submits a self-assessment tax return.

It is also worth mentioning that in a years time, from 6 April 2020, UK residents will be subject to the same rules already imposed on non UK residents since 6 April 2015, such that when a disposal is made of UK residential property, a report showing the capital gain arising and payment of the calculated capital gains tax liability will need to be made to HMRC within 30 days of the disposal.

Advice should always be taken when making a disposal to ensure that all reporting requirements are met.