Buying homes abroad could mean tax implications

Clients returning from a trip abroad may think buying a holiday home is a great idea, but investors need to be warned of the inheritance tax implications and similar pitfalls should they decide to buy in certain countries, says accountants and business adviser PKF. Countries such as Spain and Portugal, which are popular with UK retirees and holidaymakers, impose some form of inheritance tax on the transfer of land and property on the owner's death, while countries such as France also have restrictive land ownership succession rules. As a result, buyers are on occasions urged to c...