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TaxRobin
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Experience:  International tax
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I own a maltese company that owns a flat in london. I bought

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I own a maltese company that owns a flat in london. I bought it in 2002 for gbp 65o,ooo fully furnished and including a car parking space.
i have been offered gbp 1,100,000 for it. It was rented for a period of three years and my accountant submitted a return to HMRC and tax paid on the income
if the company sells the flat is it liable to CGT ?
Submitted: 2 years ago.
Category: Tax
Expert:  TaxRobin replied 2 years ago.
Hello and thank you for allowing me to assist you.
The UK government announced that it will charge capital gains tax
(CGT) on gains made by non-residents disposing of UK residential property, from April 2015.
The charge will come into effect in April 2015 and apply only to gains arising from that date.
To non-UK resident individuals, trustees, certain closely-held fund structures and companies; On the disposal of UK residential property, including rental properties; and Capital gains tax will be charged on the increase in value of the property from 6 April 2015 onwards.
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