I have written in the past on UK Government proposals to tax non UK residents on disposals of UK residential property. I have included a link here to the article which covers this in more detail.
The consultation period has now ended and the Government is considering their proposals in the light of the responses they received. The Government has now indicated that they will introduce some form of test into the legislation, based on UK ‘close company’ legislation that means that entities that have a very diverse ownership should not be caught by the proposed charge whereas those held by only a few will be.
Why it should somehow be a bad thing that should be taxed if a few individuals invest in UK residential property but a good thing that shouldn’t be taxed if a big institution invests in UK residential property is not entirely clear from the paper.