Recent changes to French Capital Gains Tax rules

Legal Advice
1

I understand that from 1 September, the ownership period for not paying capital gains tax on a second property has reverted back from 30 years to 24 years. However, I understand that there are still social charges required to be paid on the sale of a second property up to the full 30 years. Can anybody please confirm this for me?


We are now French residents, looking to sell our former UK property which we have owned for 27 years. We bought in in 1986 for £47K and it is now worth approx £280K. We have extended the property extensively, but as we did all the work ourselves, I don't think we get any allowance for this. Can anybody give me an approximate idea of how much tax in France we will be required to pay?


Many thanks.

2

Sadly, that is not the view of the French tax authorities, who tax you on your worldwide assets, once you are a french resident. Now that we live in France, our french house counts as our primary residence, therefore our former uk home is by default considered to be our second home.

3

Hello Clare. I no expert in French tax so I think you should get some professional advice because if the house in the UK was your principle private residence until you moved to France I don't think you should pay any tax.