In the UK, capital gains tax is now payable at 18%.  This has recently reduced from a maximum 40%, and has been a benefit for overseas property investors.  If you are UK domiciled (i.e., you normally live in the UK and were most likely born here too) as well as being a UK resident, you have to pay capital gains tax on both your UK and overseas assets.

If you are non-domiciled in the UK but living here (a ‘non-dom’), you do not have to pay capital gains tax on any overseas assets. 

There are a number of ways that you can make overseas property purchases in such a way as to considerably reduce, defer, or completely remove your capital gains tax liability. Any reduction, deferral or removal of the capital gains tax you have to pay essentially improves your return on investment, and as such, is worth considering in some depth. 

At Brookes and Company, with our background in Accountancy, we make a point of looking at tax-efficient purchasing options.  We are able to offer our clients not only the best overseas property investment options, but also the best tax solutions and purchase arrangements, suitable to their specific needs.

Please contact us for further details as to how you are able to buy abroad in a tax-efficient way.  We run free seminars and one-to-one sessions with a tax specialist who can help you with your tax planning and investment strategy.