Tips 4 Brits

Prospective investors in overseas property have been advised to consult a specialist before entering into a transaction.
It was often assumed that property owned abroad was not subject to the British tax regime.
However, as an asset owned by a registered UK citizen, it could still form part of a person's estate and therefore make them liable to pay inheritance tax.
Taking professional advice can help to minimise the impact of these taxes.
Many factors had contributed to the surge in the number of Britons moving overseas, such as rapid flats price inflation in the UK and the weather.
The comments follow the release of official figures showing that during the year to July 2006, 385,000 people left the UK to live in countries such as Spain.

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