On 1 December 2017, HMRC and HM Treasury published a summary of responses to the March 2017 consultation on proposals to move from an income tax/non-resident CGT (NRCGT) charge to a corporation tax charge for (respectively) (1) UK rental income received by non-resident companies, and (2) sales of UK residential property by non-resident companies.
The summary confirms that the planned changes will go ahead, with effect from 6 April 2020. This being despite the fact that most respondents were not in favour of subjecting non-residents currently within the scope of the NRCGT charge to a charge to UK corporation tax instead.
The response summary paper makes it clear that the planned changes will apply to non-resident companies investing in UK property through non-UK property unit trusts.
See here for our earlier commentary on this consultation.
The summary of responses can be viewed here.