With more and more Britons buying property abroad, Wolverhampton-based accountants AGS are highlighting the opportunity for tax savings and long-term investment.

Around 800,000 UK households are already thought to own property abroad and, as UK house prices soar, value-for-money destinations including Brazil, Bulgaria, the Caribbean, Cyprus, Morocco and Romania are growing in popularity for property purchases as second homes, investments or for retirement.

Steve Aston, partner at AGS, said: “We are advising a number of investors on tax liabilities and maximising potential tax breaks when they buy property overseas.

“Although buying such a property can work to your advantage, it is not something you should do without seeking advice from a qualified professional, such as an accountant, so that you are fully aware of all the tax implications.

“At AGS, we have also been working with the PROBIZ Real Estate network, which builds relationships with overseas property developers, allowing clients of PROBIZ member firms to buy off-plan holiday homes, for their own use or for investment and capital growth.

“In addition to the potential discounts and benefits clients enjoy when they buy property through PROBIZ, they can also expect to significantly reduce or eliminate taxes, such as capital gains.

“Clients buying through PROBIZ also have the reassurance of knowing that the company conducts due diligence on all the property developers it works with.”

If you would like more information on any aspect of buying property abroad, please contact AGS on 01902 717175