Well, I imagine that if it came to pass, it would reduce British expat demand for property in Spain. However, the Spanish taxman is already doing a great job of that. Nothing the HMRC can do will come close to the damage done by Hacienda.
I believe the UK plans to start taxing all propertry sales by non-residents next year, so it’s a bit of a double-whammy for expats renting out property in the UK and more incentive to sell UK property now.
There must be thousands of expats working abroad and sending a large portion of their earnings back to the UK to support their families who spend the money for general living costs (paying tax on all purchases). These expats are an invisible export. Personally I left the UK 22 years ago, we got no reduction in community charge for 1 adult living in the house since it was deemed by the local authority that I was out of the country for working reasons (they cited a case concerning merchant seamen). So now will they demand capital gains tax?
We are and have been told to plan for the future, save for retirement etc.
How can anyone do this if the rules change every five minutes?
Saving for a retirement takes a lifetime, so the rules should be frozen when you pay your first NI contribution.
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