On 6 July 2016, UK HMRC published the legislation for the taxation of profits of non-residents from trading in and developing UK land, which includes seven clauses introduced in Finance Bill 2016. The legislation introduces a specific income tax or corporation tax charge on profits from dealing in or developing land and other immovable property in the UK. The charge is income tax or corporation tax depending on which of those charges applies to the business, and the calculation of profits follows the normal rules for calculation of trading profits. The charge overrides the corporation tax rules that charge tax...