The Government has made many headlines as the result of its desire to cut down on what has previously been thought to be legitimate tax planning and high on its list of targets are high value residential properties. The changes are a new annual residential property tax charge (a form of SDLT), increased rates of SDLT (already in force) and an extension of capital gains tax.

The table below outlines the tax position very briefly based on current drafts of the legislation but we have a more detailed client alert on the three tax charges for those who need more information.

Click here to view table.