Foreigners and non-resident expats face capital gains tax on UK house sales but will the super-rich end up paying? « ArabianMoney

Foreigners and non-resident expats face capital gains tax on UK house sales but will the super-rich end up paying? « ArabianMoney:

"For foreign nationals and UK expatriates owning homes in the UK as a safe haven there is going to be a nasty sting in the tail as finance minister George Osbourne is planning to tax the capital gains of non-residents when they sell UK houses, according to The Daily Telegraph yesterday.

At present non-residents only pay the four to seven per cent transfer fees on UK property. Now they will face 28 per cent capital gains tax on the increase in value since they bought it. The precise details of the tax have yet to be announced."

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