nvesting in property overseas can be a rewarding but challenging exercise. So why risk possibly all the fruits of your endeavours for the want of taking some good sound advice initially. Whether just buying your first place in the sun, or embarking on an investment strategy, you need to have considered taxation issues.
There are certain misconceptions as to what your exposure to taxation in both the UK and the jurisdiction where you chose to invest should be. Did you know that you will normally have to report in the UK rental profits or capital gains regardless of whether you spend the profits in the UK or not? This will become a big issue for some as the EU gets larger when the disclosure of overseas landlords and transactions to the UK authorities will become more common place. Would you sleep at night wondering when that knock on the door might happen? |
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Accepting the correct tax treatment in just step one. There are many straightforward cost-effective planning measures that can mitigate or even eliminate tax bills. All that is generally needed is some forethought and to speak to someone who knows what you need.
Nunn Hayward, a firm of Chartered Accountants, based in Gerrards Cross, South Buckinghamshire, have a specialist tax department that has been providing advice and peace of mind to their own clients, and more recently Focus clients, on just such issues.
They ensure you are set up right from day one to meet your objectives, thus enabling you to have peace of mind in the knowledge you are fully compliant both here and overseas, as well as reducing your taxation exposure as far as your circumstances will permit. |
