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Offshore bonds held by UK residents – Property funds – Latest developments

We published a news article last year relating to the changes brought in on 6 April 2019 which widened the UK capital gains tax net on UK property or land to include gains made by non-resident companies.

The original legislation had consequences for UK residents with offshore bonds invested in ‘UK property rich funds’ as although the investor was UK resident, the offshore bond company was classed as the non-resident ‘beneficial owner’.

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