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Real Estate ArticlesHow to buy real estate in the UKUK property can be bought for a variety of reasons. You can be looking for long-term investments, receiving rental income or private use. Private property can be bought by individuals as well as a foreign company with a non UK resident as a beneficial person. Thus, real estate can be achieved by any foreign company.UK non-residents should take concern of taxation requirements available in the United Kingdom. Capital Gains Tax is paid for capital growth when there’s any income emerging between the selling and buying values. UK non-resident’s incomes resulting from his selling of property are taxed even if the property is located in Great Britain. However, if a UK resident became a new beneficial owner, all company incomes are taxed due to Capital Gains Tax. Further the property is taxed according to the income that is achieved from the use of the property. It is subject to the Income Tax. There is also another tax that should be kept in mind – death-duties. An individual residing in the UK is the taxpayer as well as the person who is not a UK resident. UK property belonging to a foreign company will not be taxed under the death-duties. The whole buying procedure is to be thoroughly considered in order not to allow your company to acquire the UK-residential status under the British legislation.
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