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A new scene
It is estimated that there are about 22 000 non-resident company landlords (NRCLs) holding UK residential and commercial property. In many cases taxpayers use a non-resident company mainly for the simplified filing requirement and compliance cost savings as opposed to a tax planning motive. However the capital gains tax and inheritance tax rules for non-resident landlords have been changing since 2013 and are all part of the government’s attempts to level the playing field between UK and non-UK taxpayers on property. Recent years have seen several changes in the taxation of such entities and there are substantial amendments to follow in April 2020 (tinyurl.com/yxjk4xfb). Some of the changes mentioned apply to taxpayers other than NRCLs but the focus of this article is on NRCLs.
Setting the scene
At present NRCLs...
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