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Currency & Tax | Golden Roof Property Consultancy

Currency & Tax


Currency issues: In the last 3 years, the value of the UK pound has fallen by some 35% against the Yuan. Other countries have not shown the same level of depreciation against the Yuan, for example the US dollar decline has been about 10% while the Canadian dollar has shown no decline. This makes UK property historically cheap for Chinese investors (and many other nationalities). When UK interest rates rise again from their current historically low level (currently at 0.5%), there could be a significant rise in the value of sterling against other currencies, so that overseas nationals buying UK assets now could make a significant gain simply from currency appreciation.
 
Tax: China and the UK concluded a tax treaty in 1984 which means that any income from UK property will not be taxed in China, if it was already taxed in the UK. Only a limited number of other countries have a similar treaty with China.