Britons owning property overseas may be set to benefit from a change in taxation law, accountants have claimed.

Experts have said a recent ruling by the European court of justice is this definitely that the UK government cannot withhold relief on inheritance tax for those with overseas property investments does not just apply to assets such as woodland or agricultural property, the Times reports.

Angela Beech of accountancy firm Blick Rothenberg told the news provider: "Britons who own, say, a farmhouse in France or a farm cottage in Italy, could benefit hugely."

Such a change could be good news for Italy property buyers, particularly if they want the asset to be passed on down the generations.

Those buying Italy property may find the biggest discounts in the main centres of population, the Roman Forum reported earlier this month.

It quoted figures from three house price surveys in the country showing that values have dropped in major cities such as Rome, Milan and Turin.

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