It is looking increasingly likely that the Autumn Statement next Thursday (5th December 2013) will contain an announcement on charging non-UK residents to CGT on disposing of UK property they own.

Normally any announcement in the Autumn Statement would start a consultation on the proposed measures, but there is the possibility that any changes will come into force with immediate effect (i.e. from next Thursday) rather than at a later date. Unfortunately it is impossible to say with absolute certainty that the rumoured measures will be introduced and the date from which any measures would come into play.

If you are concerned about the tax implications for you as a non-resident, then possible action to take before next Thursday could include a “disposal” of the property to uplift its base cost and so exempt that property’s appreciation in value to date, from a potential future charge to UK CGT.

However there is less than a week to implement any such planning and before transferring any UK property there are the legal and commercial considerations to bear in mind. These might just outweigh the tax implications.