Jump to content

danny

Members
 View Profile  See their activity

  • Posts

    120

  • Joined

  • Last visited

 Content Type 

Posts posted by danny

    URSSAF

    in French Finance

    Posted

    Because we are under retirement age we pay 8% of our income in excess of €8,600 odd which is quite expensive. So the question i am asking is would the capital gains on the sale of the property be considered as income for the puropses of the URSSAF.

    URSSAF

    in French Finance

    Posted

    Are capital gains on the sale of a rental house subject to the 8% URSSAF as well as the CGT of 16% and Social Security of 12.1% thus giving real CGT charge of 36.1%.

    Savings rates from French banks

    in French Finance

    Posted

    Caisse d'epargne are offering 4% on an assurance vie contract guaranteed for 2010. I normally take one out at the start of each year and then cash them in at the end of the year. The charge for setting them up is generally between 0.75 and 0.25% depending on the sums one invests, the higher the sum the lower the charge. Just make sure that you ask for no tax and social security to be deducted other wise you can lose up to 47% of the interest earned. The the following year just delclare the income on your tax return as normal.

    VAT on a new build

    in Finding/Owning French Property

    Posted

    According to your figures your vat liability on sale less than 5 years would be about €7,500. You can not reclaim the vat on acquisition. You can dispose of the house with a sitting tenant, however you would be looking at a very limited market and would proably have to discount the property by between 10% and 20% to get a sale. Do remember the tenant would have first call on any sale. If the tenant is over 70 years of age, the house generally can not be sold, again if the tenant is over 60 and meets certain income levels the property may not be saleable.

    VAT on a new build

    in Finding/Owning French Property

    Posted

    The new buyer will pay about 3% of the sale price in additional costs.

    You will pay CGT in France if you make a profit on the sale at 16%, could be 18% next year. As regards Vat, it is payable on the sale price at 19.6%, so for example if you sell the property for €250,000 the vat would be €40,970, and you would be allowed to deduct any vat suffered when you purchased the property, provided you have invoices.

    If you wait the 5 years then no vat is payable by you, however the new owner would end up paying about 7% in acquisition costs, thus making it less attractive to purchase that a house which attracts a 3% rate.

    You state that the house was completed in May 2007, I assume that the appropriate H1 form was then completed, if so the 5 years would then end in 2012 april.

    You also state that the house is rented, if rented unfurnished and depending on the profile of the tenant you may not be able to sell the house as quickly as you think.

    I am assuming that you purchased the house not under one of the guaranteed rental schemes.

    Long-term letting

    in Long Term Letting

    Posted

    What a post !!!!!!!!!!!!!!

    Two posts in 5 years plus, looks like you have had some very bad experiences.

    Just a point or two, if you want to ask a tenant to leave under a 3 year unfurnished lease, it is necessary to give them notice 6 months in advance of the termination of the lease via a recorded letter or by a bailif. To give one months notice because of medical grounds is very restricitive. Generally in dept 17 rental of a new t5 will cost €750 to €850 plus charges per month. The main reason an owner wants to ask a tenant to leave generally relates to the stupid law that gives tenants over 70 years of age the rights to say in the property forever or be rehoused at the owners expense in a property of equal status. The logic behind the regulation is sensible, so as to protect the elderly, however it does the opposite and ensures that elderly tenants have great difficulty in renting a property.

    Good luck with your hunt.

    Underground Heating Pressure Loss.

    in House Renovations

    Posted

    Thanks for the response. Just had the plumber around and got him to disconnect the air conditioning unit from the manifold. Apperently the unit is connected to one of the two manifolds that operate the underground system. A leak had developed in the unit but was not seen by the heating people as the overflow pipe was taking the water away. The leak only became visible because I kept repressurising the system and the overflow pipe broke and the water leaked out.

    Now that it has been disconnected the system is operating at 100%.

    Thank you for all of your advice. Right from the start you said we had a leak and you were correct.

    Underground Heating Pressure Loss.

    in House Renovations

    Posted

    Can I tap into your knowledge bank again. Over the past three days we have monitored the pressure. Basically every time we set the pressure at 2 bars one hour later it has fallen 1 bar. We have done this 22 times. We have also purged the air from all of the manifolds and nothing has changed.

    This morning we noticed that water was coming through the wooden ceiling. Upon inspection it was coming from the air conditioning unit called "Aerlec" this is just for cold air. I took the frame off and their is three pipes going into the system. Two of them are red and one is blue. It would appear that one of them the blue one is some form of overflow pipe. The plastic section connecting it to the the blue pipe has degraded.

    So far today we have taken 10 to 15 litres of water out of the system. It is a constant drip. The system has been deactivated and it is not plugged into the electrical system, nor has it been for sereral months.

    We have a call in for the heating engineer and the plumber for tomorrow but are not expecting a rapid response. I guess it will take several days.

    We turned off the water in the house to see if we could stop the flow of water, however whilst we have no water for the washing machine, dishwasher, taps, both hot and cold and toilets the drip continues unabated.

    Is it possible that the air conditioning system is intergrated into our underground heating system and this is the reason for the constant pressure fall.

    Underground Heating Pressure Loss.

    in House Renovations

    Posted

    Finally the experts !! have arrived. They have changed two "manometres" gauges. Before leaving they said that the pressure would keep falling for 3 days and that we would need to repressurise the system. They also said that the temperature gauges would rise initially and then fall back to their normal range of 25 to 30. They alos said that a lot of air was in the system.

    That was 3 hours ago, so far the pressure falls 1 bar every 70 minutes and the temperature gauges are at 40c and not falling. Is this normal or have we been told lies.

    Underground Heating Pressure Loss.

    in House Renovations

    Posted

    due to the fall in temperature we put the heating on. I noticed that the pressure gauge which normally stays at 1.5bars falls very quickly to zero within the space of an hour. It would appear that I have a leak. We had the boiler serviced two weeks ago and a few leaks and pipes were replaced. We see no evidence of water in, around or under the boiler. I have opened up the system and can see no leaks or evidence of water. I have taken out the two pipes coming from the boiler system into the house and examined them in detail and nothing.

    The underground system in the house is broken down into zones, such as SDB, Sejour chambre etc. , what I am currently doing is turning off each zone and then checking if the pressure continues to drop, if it does I then turn off the next zone and reset the pressure at 1.5bars.

    Can I assume that if i do the above and the pressure continues to drop that i can conclude that their is no leak in the underground pipes in the house and the fault lies elsewhere.

×
×
  • Create New...