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STOP PRESS: At Spring Budget 2024, the Chancellor announced that the remittance basis would be abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

This guidance note covers, in outline, the UK tax consequences of deriving income from land or property overseas.

It looks at the interaction with overseas taxes, and considers the UK tax treatment of let property, overseas farms, woodlands, and the use of companies to hold foreign holiday property. Furnished holiday lets situated abroad are covered in the Furnished holiday lets guidance note although it should be noted that the furnished holiday let tax regime will be abolished from April 2025. This guidance note does not cover capital gains, VAT or inheritance tax, except incidentally.

For more on capital gains tax, see the Disposal of land ― individuals