Converting trust losses into winnings

Samara Goeieman considers the non‑resident capital gains tax charge on trustees disposing of direct holdings in UK residential property

Capital gains and capital losses arising to non‑resident trusts were generally outside the scope of UK capital gains tax unti l 6 April 2015, when legislation introduced a non‑resident capital gains tax charge on trustees disposing of direct holdings in UK residenti al property. The scope of the charge was extended by Finance Act 2019 to include direct holdings of UK non‑residential property and also to gains on all UK property held indirectly through corporate bodies.