As the UK Government prepares to open the Hong Kong British National (Overseas) Visa for applications from January 2021, many people in Hong Kong may be planning to buy and rent out UK property, before moving into this property while keeping and renting out their Hong Kong property.
To help them understand the tax implications of this arrangement, BKL private client tax specialist Geraint Jones was interviewed for Hong Kong’s Next Magazine.
Topics discussed by Geraint include capital gains tax, Principal Private Residence relief (also known as main residence relief) and Annual Tax on Enveloped Dwellings (ATED).
(As of June 2021, Next magazine’s webpages and videos are unavailable. For reference: the article and video were available to Next Magazine subscribers here; a translation into English was available here.)
The video is also available on YouTube:
Other articles in this series:
- UK tax analysis
- Selling a main residence in Hong Kong after moving to the UK
- Tax and clean capital
- Domicile and non-domicile status
- Inheritance tax: introduction
- More about inheritance tax
To find out more about how Geraint and our other tax specialists can help people who are looking to invest in UK property or relocate to the UK, please get in touch using our enquiry form.