Overseas property and taper relief

We've had a few people ask about overseas property and taper relief this so I thought it was worthy of a quick blog post. If you are a UK resident (& domiciliary) and sell overseas property realising a gain, you'll be entitled to claim taper relief as well as various other reliefs to reduce the gain. If it's a residential property let it will usually be the non business assets rate of taper relief, so an effective rate of CGT of around 24% after ten years ownership (if you're a higher rate taxpayer). The furnished holiday lettings rules don't apply to overseas property. You could claim business asset taper relief if it was used for the purposes of a trade - but this won't usually apply for many UK property owners/investors. You should also read the following: Claiming main residence relief on an overseas property to reduce your tax charge
How best to structure overseas property development
Offshore tax REPORT - Buying overseas property through a company after the 2007 Budget