Buyer beware! Foreign investors to face higher tax rates for UK property

12 December 2012 | 2 minutes read

Non-natural persons’ (NNPs) buying high-valued United Kingdom (UK) property could face greater rates as the country looks to close a £1 billion (US$1.6 billion) stamp duty loophole by targeting levy-free purchases through offshore companies. This spells bad news for Asia Pacific’s wealthy who, according to a recent report by Citi Private Bank and Knight Frank, prefer the United Kingdom as…

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