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Sanjay Mehta comments in the Financial Times on capital gains tax surprise for property investors in UK Budget

Firm News | November 22, 2017

Sanjay Mehta, a Katten Muchin Rosenman UK LLP Tax partner, was quoted in the Financial Times regarding the UK Chancellor's surprise move to subject foreign investors in UK real estate to capital gains tax from April 2019. Prior to this new measure, unlike UK-based investors, most non-UK based real estate investors have been outside the scope of UK capital gains tax. Sanjay discussed that, while there will be exemptions for tax exempt investors such as pension funds, the impact of the new rules on conventional structuring used by many categories of investors, such as private equity firms and family offices, will be profound. Sanjay also noted that there will be an opportunity for interested parties to make representations to HM Revenue Customs in the UK during the public consultation over the next few weeks, although the rules look certain to be enacted.

("Budget springs capital gains tax on overseas property investors" November 22, 2017)