ANNOUNCEMENT 01 Apr 2015In April 2015, the British government announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Reuters, October 31, 2013, 'Britain considers taxing foreign property investors as house prices soar': http://uk.reuters.com/article/2013/10/31/uk-britain-property-tax-idUKBRE99U0B820131031
HM Treasury, Autumn Statement 2013 (see page 71): https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/263942/35062_Autumn_Statement_2013.pdf
On December 4, 2013, Chancellor of the Exchequer George Osborne delivered his Autumn Statement to Parliament. In it, he announced the introduction of a capital gains tax on foreign non-resident property owners (those with permanent residence in Britain are already subject to the tax), in a bid to curb the soaring house prices in Britain, and particularly in London. According to the statement, the tax - of which the details are yet to be communicated - should be introduced in April 2015.