Currently: 506,780 Listings of Properties for Sale

Granny Tax set help overseas property sector

Granny Tax set help overseas property sector

Granny Tax set help overseas property sector

By: Nick Marr -  Category: United Kingdom - Added: 2012-04-27


George Osborne’s recent Budget included plans to freeze the personal tax allowance for pensioners.  This controversial measure has been nicknamed the ‘Granny Tax’ and with further changes set to reduce incomes for pensioners in coming years, leading experts believe it may encourage more Brits to retire abroad.

Keep reading for details of the tax changes and why many market analysts think that increasing numbers of Brits will look to move to overseas property in their retirement years.

Pensioners set to lose hundreds of pounds a year

Recent figures from the Inland Revenue showed that the Chancellor’s tax changes will leave over 4 million people £83 a year worse off on average in 2013-14 and 360,000 individuals aged 65 set to lose £285 a year on average.

Danny Silver, a leading French property expert, observes said: “With benefits axed and British pensioners seeking to protect their retirement funds from government invasions, more Brits will be looking to retire to countries in which they will be taxed less with the forever popular destination of France offering a great escape.

Overseas property specialist HomesGoFast.com agree.  He said: “With the Government keen to increase the tax they take from pensioners, we expect many more Brits to consider retiring abroad.

“The costs of living can often be cheaper overseas.  For example, food and restaurants are around 20-30 per cent cheaper in France than they are in the UK.  As pensioners’ incomes reduce they will increasingly look to make their money go further by moving overseas.”

France and Spain remain the two most popular countries with Brits retiring abroad, although the problems in the Eurozone have led many people to consider locations further afield.  Australia, Thailand, India and the USA have become increasingly popular over recent months.


Author Nick Marr


Sales of UK property are slowing down
By:  -  Category: United Kingdom - Added: 2014-07-23
Viewings of London property up 10pc
By:  -  Category: United Kingdom - Added: 2014-07-21
Cambridge: The fastest selling place in Britain
By:  -  Category: United Kingdom - Added: 2014-07-18
Does love at first viewing exist?
By:  -  Category: United Kingdom - Added: 2014-07-16
Sales of property in Canada up by four-year high
By:  -  Category: Canada - Added: 2014-07-07
Price must be right for London property to sell
By:  -  Category: United Kingdom - Added: 2014-07-04
Pending and existing home sales up in USA
By:  -  Category: United States - Added: 2014-07-02
1 in 5 sellers fetch higher than asking price
By:  -  Category: United Kingdom - Added: 2014-06-24
Increasing London house prices inspire sellers
By:  -  Category: United Kingdom - Added: 2014-06-16
US house prices rise for 20th month in a row
By: Laura Varley -  Category: Mexico - Added: 2013-12-05
Cyprus property market turning a corner
By: David Howells -  Category: Cyprus - Added: 2013-12-05
Australian property market growth slows
By: Michael McFadyen -  Category: Australia - Added: 2013-12-04
Emigrating Britains prefer to stay in Europe
By: Richard Towey -  Category: France - Added: 2013-12-04