January 19, 2009
PKF Accountants have ussued a warning to British overseas property investors regarding the current capital gains tax rules in the UK. Falling property prices in the eurozone plus a worsening UK economy and a substantial fall in the value of the pound is prompting many ex-pats to sell up and move home, but UK tax laws stipulate that any gains on overseas assets are calculated using the spot exchange rates on the given day assets are bought and sold.
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