UK investors with overseas assets such as property are set to get a tax boost after HM Revenue and Customs's (HMRC) recent announcement that new tax treaty arrangements with four additional countries will soon come into effect.
Financial Secretary to the UK Treasury, Jane Kennedy, announced last month that during the Treasury's tax treaty programme to March 31, 2009, the government plans to complete work on new treaties with the Netherlands, Ethiopia, Libya and Thailand. It also intends to progress negotiations with China, US, Spain, Belgium, Luxembourg and Hungary.
The UK government also plans to commence new negotiations with Australia, Canada, Israel and Spain, and will make further announcements about treaty talks with other jurisdictions as and when arrangements are in place.
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