Caught in a “completion trap”

Charles Mieville, partner & Elizabeth Small, partner, Forters, 24/03/2021

Non UK tax resident buyers who have already or are about to exchange contracts should proceed with caution. A completion trap may occur where a non UK tax resident buyer has exchanged contracts on or after 11 March 2020 (or in some cases older contracts) but is not due to complete until after 1 April 2021, or sometimes where completion is scheduled for any date within 10 working days of 1 April 2021.

Given the NR...

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