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Delay to Luxembourg-UK treaty changes until 2024 at the earliest

Delay to Luxembourg-UK treaty changes until 2024 at the earliest

Jan 05, 2023
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Summary

The changes to the Luxembourg-UK treaty will not be effective until 2024 at the earliest because Luxembourg did not ratify the treaty changes in 2022.  The delay was expected, as trailed in our earlier blog, where we explore the impact on the UK real estate sector.

The delay means that, subject to the conditions of the existing treaty being met, certain Luxembourg investors should continue to be able to sell UK property rich entities without incurring UK tax on chargeable gains until April 2024 at the earliest.

Thanks to Johan Leonard at Stibbe for confirming Luxembourg did not ratify the treaty changes in 2022. 

If you have any questions, please contact Elizabeth Bradley at BCLP, or Johan Leonard at Stibbe.

Related Practice Areas

  • Real Estate Tax

  • Tax Advice & Controversy

Meet The Team

Elizabeth Bradley

Elizabeth Bradley

London

+44 (0) 20 3400 2323

Anne Powell

Anne Powell

London

+44 (0) 20 3400 2162

Meet The Team

Meet The Team

Elizabeth Bradley

Elizabeth Bradley

London

+44 (0) 20 3400 2323

Anne Powell

Anne Powell

London

+44 (0) 20 3400 2162

This material is not comprehensive, is for informational purposes only, and is not legal advice. Your use or receipt of this material does not create an attorney-client relationship between us. If you require legal advice, you should consult an attorney regarding your particular circumstances. The choice of a lawyer is an important decision and should not be based solely upon advertisements. This material may be “Attorney Advertising” under the ethics and professional rules of certain jurisdictions. For advertising purposes, St. Louis, Missouri, is designated BCLP’s principal office and Kathrine Dixon (kathrine.dixon@bclplaw.com) as the responsible attorney.