HMRC update: Non-resident companies chargeable to Income Tax & non-resident CGT

Simon Vardon

Simon Vardon, Director, Product Development – Real Estate

19 April 2017

On 20 March 2017 HM Revenue & Customs published a consultation paper entitled “Non-resident companies chargeable to Income Tax and non-resident CGT”. Broadly, the proposals involve a non-resident company currently subject to income tax in the UK being brought within the scope of UK corporation tax.

It may be recalled that on 16 March 2016 the then Chancellor, George Osborne announced that with effect from 1 April 2017 a number of measures proposed under the BEPS recommendations by the OECD would be introduced to the UK corporation tax legislation. These were enacted by the Finance Bill 2017. Thus, one of the main drivers of the proposals is to include non-resident companies within the scope of the new BEPS related rules, which HMRC are proposing is most efficiently undertaken by bringing non-resident companies within the scope of corporation tax.

Read the full update here.

  • About us

    SANNE is a leading global provider of alternative fund and corporate administration services.

  • Our services

    SANNE provides clients across the globe with a wide range of complementary business services, focused on two core areas: alternative asset services and corporate and private client services.

  • Our approach

    We understand that each client relationship has a unique set of requirements and expectations; that is why our client service teams are handpicked and tailored to fit the specific and evolving needs of each client.

  • Thought leadership

    At SANNE, we collaborate and share our knowledge and best practice with those we value. These are the things that make the difference.

  • Our people

    We work with talented people. It’s their deep expertise, knowledge and collaborative nature that differentiates us. We see things differently.

  • Global locations

    Our global network is spread across three global regions: The Americas, EMEA and Asia-Pacific & Mauritius.