'UK tax to increase overseas money transfers'

High income tax in the UK may increase the level of investment returns in Europe, according to industry experts.

Property portal TheMoveChannel.com recently explained that the 50 per cent tax rate in Britain is likely to push wealthy investors to transfer money and their businesses abroad.

The knock-on effect of expats buying more assets abroad is that property prices in their chosen regions may increase.

Destinations that are likely to prove popular for UK emigrants making international payments include Monaco and Gibraltar, due to possible tax savings.

Dan Johnson, director of the portal, said: "With the convenience of international travel within Europe, it is quite possible to be based - from a tax point of view - in Gibraltar.

"The introduction of a 50 per cent rate of tax for super-high earners is definitely going to result in people putting into play tax minimisation strategies."

Meanwhile, the Guardian recently suggested that working internationally may help to boost employees' career opportunities.

Click here to make an International Money Transfer.

By Linsey Summers.