My client was I believe born in the UK but is of Indian parentage. At a recent meeting to discuss his UK business accounts he advised me that he has recently purchased two apartments in Morocco with the intention of letting them out. He has been told (by the 'friend in the pub') that if he does not remit the rent to the UK there is no tax liability here.
He also tells me that a further ten apartments have been 'reserved in his name'. He has not purchased them but it almost seems as if he has 'first refusal' and the developer has promised to pay him commission on any sales. I presume that the Moroccan developer thinks that my client will spread the word regarding the apartments and their investment potential in the UK.
I would appreciate any advice from readers...
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