We need your support to keep TheyWorkForYou running and make sure people across the UK can continue to hold their elected representatives to account.

Donate to our crowdfunder

Capital Gains Tax

Treasury written question – answered on 18th October 2018.

Alert me about debates like this

Photo of Anneliese Dodds Anneliese Dodds Shadow Minister (Treasury)

To ask the Chancellor of the Exchequer, what estimate he has made of the effect on UK-resident businesses of the proposal on deferred payment of capital gains tax for (a) trusts ceasing to be UK resident and (b) non-UK resident individuals who trade through a UK branch or agency as set out in clause 36 of the draft Finance Bill.

Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General

Clause 36 is not expected to impact on UK-resident businesses.

Those who are moving trusts out of the UK and non-resident individuals who defer capital gains tax as a result of the measure will still pay the same amount of tax, but over a longer period with interest charged on outstanding amounts.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.