Government CGT plans target overseas investors in UK property

CIOT: Government plans to introduce a new capital gains charge on UK properties sold by non-residents could add to the costs and admin of residential property sales by overseas investors, says the Chartered Institute of Taxation (CIOT). The Institute has called upon the Government to avoid creating a more complex capital gains system as a means of extending the charge, saying the Government is being presented with an opportunity to simplify the system and should refrain from further complication.

Full story: http://www.tax.org.uk/media_centre/Press+Releases/CIOT_press_release_2_Jul_14?