UK Tax on Greek property

Can anyone recommend a tax advisor for a UK citizen buying property in Greece?

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Specifically, my client has the following question:

 

In Greece it is common practice for the contractual value of the transaction to be the objective value of the real estate as determined by the government. The rest of the price is transferred "under the table". For the purposes of UK CGT when he comes to sell in many years, is there a way to incorporate the real price into the cost or would the objective value have to be used?

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By bernard michael
21st Feb 2017 11:25

Surely the cost price is the price you paid provided you are happy to explain the circumstances of dodgy money (cash??) to HMRC if asked for proof. I'm sure they'll see the situation for what it is and be helpful

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By Accountant A
21st Feb 2017 12:32

It's not spelt out but presumably the intention is for someone to evade tax by doing this. Does the fact that this would be non-UK tax make it any less a "Suspicious Activity"?

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Replying to Accountant A:
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By Superfluid
21st Feb 2017 13:39

In this case the Greek seller may be looking to avoid Greek taxes however my client is seeking to comply both with Greek taxes and UK taxes.

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