Overseas property owners

Meeting: 
MQT on 2014-02-26
Session date: 
February 26, 2014
Reference: 
2014/0973
Question By: 
Andrew Dismore
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

In your speech to the annual Mansion House London Government Dinner you  said you  recognised there was a "desperate shortage of homes" in the capital - with up to 47,000 now needing to be built a year just to meet demand. You said that new builds should be "marketed first to Londoners", and foreign owners should either live in or rent out their properties not just regard them as "blocks of bullion in the sky". In these circumstances do you support proposals to ensure that wealthy overseas residents  pay fair taxes on their properties including capital gains tax like ordinary Londoners when selling a second home?

Answer

Answer for Overseas property owners

Answer for Overseas property owners

Answered By: 
The Mayor

Yes, I agree that foreign residents should pay the same Capital Gains Tax as other Londoners.