Would anyone have experience of living in France and renting out property in England with regard to taxation. My wife and I receive Income from three properties that we let in England. We have been told that we will have to register this part-time business in France as a “loueur en meublé professionnel” If not we could in the future be liable to “Wealth Tax”. However, we would have to pay the minimum social security payments if we register as a firm. We are told if we can register with a similar association in England we may not have to register in France. Would anyone have any experience on these matters? Or on general Taxation when moving to France?
Living in France- French tax on UK property?
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Originally posted by John PageWould anyone have experience of living in France and renting out property in England with regard to taxation. My wife and I receive Income from three properties that we let in England. We have been told that we will have to register this part-time business in France as a “loueur en meublé professionnel” If not we could in the future be liable to “Wealth Tax”. However, we would have to pay the minimum social security payments if we register as a firm. We are told if we can register with a similar association in England we may not have to register in France. Would anyone have any experience on these matters? Or on general Taxation when moving to France?
RamnikPrivate advice is available for a fee by sending a private message.
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Hi,
Around 10 years ago, I bought my first property to live in. My dad helped me out and paid a 50% deposit to get me on the ladder. I'm listed as the owner on the summary of title land registry documents under the leaseholder/freeholder section.
After living in the property for...-
Channel: Tax Questions
28-06-2022, 21:20 PM -
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by Gordon999R-2022,
In #2 , I proposed the "company" buys the property from you and the company becomes the owner of the property. The Company has no funds and borrows the £240K ; 50% mortgage loan from Bank and 50% loan from you ( director's personal loan ). The bank loan is...-
Channel: Tax Questions
29-06-2022, 15:07 PM -
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by DoricPixieThere’d be no point in attempting it as a married couple but unmarried couples would also be in for a nasty surprise since HMRC consider getting to occupy the property in such circumstances as a benefit....
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Channel: Tax Questions
29-06-2022, 15:00 PM -
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by jpkeatesIt's very unusual for a lender to be prepared to lend on a joint basis against a property owned by only one of joint borrowers.
And the additional SDLT would be payable if the two people were married anyway.
I can't imagine there are many instances of this ever happening.-
Channel: Tax Questions
29-06-2022, 13:38 PM -
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Gordon999,
Good point on #1, I haven't calculated the capital gain, but I suspect it'll be more than £20K.
#2 sounds complicated - is this relatively straightforward to do with most lawyers?
"It's why those couples who try to circumvent the higher rate of SDLT rules...-
Channel: Tax Questions
29-06-2022, 13:20 PM -
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by Gordon999R-2022
1. Have you calculated how much capital gains tax is payable after sale of the "first property" ? Since you lived at the property for a few years , the capital gain during " period of own residence" is not taxed.
So you pay tax on " the...-
Channel: Tax Questions
29-06-2022, 11:31 AM -
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by DoricPixieHer solicitor, who will most likely also be acting for the mortgage lender, will want to know the source of the funds for the deposit. Not all lenders will accept a gifted deposit coming from someone who will live in the property but not named on the mortgage.
Yes because...-
Channel: Tax Questions
29-06-2022, 09:55 AM -
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by DoricPixieIt's why those couples who try to circumvent the higher rate of SDLT rules by having a joint borrower sole legal owner mortgages fail, because both joint borrowers have a beneficial interest as both of them took out the mortgage so they can both buy a property to live in regardless of how many people...
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Channel: Tax Questions
29-06-2022, 09:47 AM -
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by Gordon999You can claim the cost of "removing kitchen and converting to utility room" before finding a buyer as an improvement expense .
Just claim this part and deduct this expense in your calculation of the taxable capital gain....-
Channel: Tax Questions
29-06-2022, 09:05 AM -
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