Owners of property abroad are being reminded that offshore assets, including property, are liable to UK tax. Charlie Hall, tax investigations partner at accountancy firm Grant Thornton is advising second home owners that failing to correctly disclose liabilities on overseas property can result in severe penalties and charges. However, Britons who know they are in breach of the overseas taxation...
Overseas property
Professional landlords are increasingly looking to overseas property investments as opportunities in other countries prove more profitable. The Sunday Times has reported that countries such as Dubai, Bulgaria and Canada are proving particularly popular with people hoping to find property abroad. They are looking especially attractive given the fall in buy-to-let rental yields in the UK. The Dubai property...
Around ten per cent of Britons' inquiries into overseas property centres on Bulgaria, confirming the growing popularity of the country and Eastern Europe in general as a location for second homes. The Glasgow Evening Times also cites official figures showing that the number of such homes bought in Bulgaria has rocketed by 38 per cent since January this year. Meanwhile, the Sofia Echo has reported that new...
Turkey's overseas-owned property is continuing to flourish, according to new data released this week by the Turkish Land Registry General Directorate. The first quarter of this year has seen British interest explode, with buyers flocking to the southern coastline's residential market. Developers are attracted to the popularity of holiday homes and retirement nest eggs in the region, with the number of...