The paper says the “tax raid” will affect “thousands of Britons living abroad”.
Details of the plan are expected to be unveiled by the chancellor in his Autumn Statement on 5 Dec.
Deputy prime minister Nick Clegg revealed the plans to tax foreign property owners yesterday, at his monthly press conference.
Clegg said that the plan had been drawn up to ensure that wealthy foreigners who buy and sell British property paid their “fair share”.
“However, it is understood that Mr Clegg’s plan would also apply to British people living abroad and who are classed as non-residents here, but still own property in the UK,” The Telegraph noted.
Another goal of the proposed measures was said to be growing concerns that a housing bubble is being created by foreign buyers "who regard flats and houses, particularly in London and the South East, as a safe investment".
British taxpayers who live in the UK currently pay capital gains tax on any profit they derive from selling property that is not their primary residence. However, foreign property investors, including Britons who are deemed tax-resident elsewhere, are currently exempt.
This is why the new tax on UK properties could have significant consequences for Britons who go abroad to work while retaining property in the UK that they may wish to sell while they are away, The Telegraph said, citing unidentified tax experts.
At noon today, some 633 comments had been posted to The Telegraph website in response to the story, which had been posted at 10pm last night.
