Closed consultation

Draft regulations: The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2021

From:
HM Revenue & Customs
Published
4 November 2020

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Summary

We welcome views on draft amendments to legislation about the taxation of UK property rich collective investment vehicles (CIVs) and their investors.

This consultation ran from
to

Consultation description

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

Documents

(Draft) The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2021

PDF, 198 KB, 3 pages

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(Draft) explanatory memorandum

PDF, 244 KB, 5 pages

This file may not be suitable for users of assistive technology.

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If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Updates to this page

Published 4 November 2020

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