The UK government has set up a new unit of tax investigators to target those who own properties overseas and have not declared them for tax purposes.
During the boom era, thousands of British investors bought holiday homes and investment properties around the world including Dubai.
There will be “no hiding place” for tax cheats, said David Gauke, the UK’s chief secretary to the Treasury who is heading up the new unit.
Speaking to Arabianbusiness, Charles Neil, CEO of Dubai-based Landmark Properties said the new unit “will have no effect on British expatriates living and working in Dubai who have non-resident UK status for tax-purposes,” but he warned that any UK residents who own Dubai properties and have not declared them any income from them should “take appropriate legal advice from their lawyers and tax accountants”.
Full story: UK tax unit to target Middle East property owners
