Overseas property
18. How are residents in the UK with property/assets overseas taxed?
ICT and CGT
An individual who is resident and domiciled in the UK pays ICT or CGT on income or gains from his overseas assets, even if the income or gains do not enter the UK.
However, if the individual is UK resident but domiciled elsewhere he is taxed only if the foreign income or gains are remitted to the UK, although he may need to pay the charge of £30,000 to claim this tax treatment (see Question 2).
IHT
Residents are subject to IHT on their overseas assets (unless they are not UK domiciled or deemed domiciled).
Double taxation
Residents with income or gains from overseas assets may be subject to tax in the UK and in another country. To avoid double taxation, the UK has entered into double taxation agreements with many countries (see Question 10).