According to Reuters who are citing Sky news, A UK finance minister is considering applying capital gains tax to foreign owners of property in the UK.
It’s a long borne out discussion that foreigners snapping up properties is leading to the current strong price rises we are seeing. I don’t see that as the main reason as that affects upmarket properties in town centres rather than your average housing.
The move looks two fold. One to nab some tax pounds and another to nail down foreign investors and their dealings.
No doubt we’ll be hearing more of this as the day progresses.
