Draft regulations: The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2021
We welcome views on draft amendments to legislation about the taxation of UK property rich collective investment vehicles (CIVs) and their investors.
The Finance Act 2019 expanded the scope for taxing gains made by non-UK residents on UK property, including specific rules for ‘UK property rich’ collective investment vehicles (CIVs) and their investors.
These regulations amend those rules, specifically to address instances where disproportionate burdens can arise for certain investors, and to correct minor drafting errors.
This consultation will be of interest to managers and advisers of collective investment vehicles, investors in collective investment vehicles and representative bodies.
The changes mainly affect non-UK residents, but there may also be impacts on investors resident in the UK.
Before submitting your response, on this page, you can read:
- (draft) The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2021
- a (draft) explanatory memorandum