Thousands of Britons living outside their country are exposed to tax raids affecting wealthy foreigners who trade in real estate in Britain. It is expected that the Chancellor of the Exchequer George Osborne announces the imposition of a tax on UK property and other investments sold by UK residents abroad or expatriates.
The Deputy Prime Minister Nick Clegg has revealed the plan of the coalition government, saying that the measures proposed will ensure a fair collection of rich foreigner’s taxes, those who buy and sell UK property. But Clegg plan is not limited to foreigners, it also includes the British residing abroad and who are not considered residents in Britain because they do not have real estate there.
About five million British live abroad while still unknown the number of those who own property and live there.