Beryl Posted January 25, 2006 Share Posted January 25, 2006 I have had conflicting advice , can any one help clear it up for me.If you are a permanent resident in France with no other property at all , if you have a house built as a family home and then sell it before 5 years, are you liable for capital gains tax or the french equivalent? Link to comment Share on other sites More sharing options...
Nick Trollope Posted January 25, 2006 Share Posted January 25, 2006 That depends....But no, if you buy another house (in France), otherwise, yes. Or maybe.Ask a Notaire - that advice should cost you nothing and can be relied upon! Link to comment Share on other sites More sharing options...
adrianpmills Posted January 25, 2006 Share Posted January 25, 2006 No. Link to comment Share on other sites More sharing options...
moon Posted January 25, 2006 Share Posted January 25, 2006 Now I see where the saying a load of old trollope comes from.Bob Link to comment Share on other sites More sharing options...
Quillan Posted January 25, 2006 Share Posted January 25, 2006 [quote user="beryl"]I have had conflicting advice , can any one help clear it up for me.If you are a permanent resident in France with no other property at all , if you have a house built as a family home and then sell it before 5 years, are you liable for capital gains tax or the french equivalent?[/quote]The best advice I can give you is the same as one of the other replies. Ignore the forum and go directly to a notaire and ask. It should not cost you anything for just a basic question like this. Link to comment Share on other sites More sharing options...
Moorejw Posted January 25, 2006 Share Posted January 25, 2006 You will not pay capital gains tax but because you pay reduced TVA on new build if you sell a new house within 2 years (I think its 2 years) then you have to pay the additional TVA. I think this is designed to discourage people from moving and making a profit on new homes.But, as everyone else has said, ask a notaire! Link to comment Share on other sites More sharing options...
BJSLIV Posted January 25, 2006 Share Posted January 25, 2006 The liability for VAT on the first, and only the first, resale of a newbuild house runs for five years from the official registered date of completion. seehttp://www.chambre-meurthe-moselle.notaires.fr/infos/juridique/Actualite/actualite009.htmIf you are fiscally domiciled in Franceyou are lucky that it is your main residence. For a second home you would pay VAT, Capital Gains and Social Charges on any gain. Link to comment Share on other sites More sharing options...
Nick Trollope Posted January 26, 2006 Share Posted January 26, 2006 [quote user="Widnesbob"]Now I see where the saying a load of old trollope comes from.Bob [/quote]Thanks for that. I presume that you are a Scouser. Link to comment Share on other sites More sharing options...
Tony Posted January 27, 2006 Share Posted January 27, 2006 There is no capital gains tax to pay, if you have submitted your tax declarations in France (the only proof that you are resident) but if the property is less than 5 years old you will have to pay TVA (VAT) at 19.6% minus any TVA paid for construction etc. Anthony JonesABC Immobilierwww.immoabc.co.uk Link to comment Share on other sites More sharing options...
Blackbird Posted January 30, 2006 Share Posted January 30, 2006 Hi we are looking for a property in France , we intend to move permantly, if you have not sold yet please get in touch. We may be able to save you some money on the taxes. PS Are you looking to move back to uk as we are selling our house in UK also. Link to comment Share on other sites More sharing options...
Teamedup Posted January 30, 2006 Share Posted January 30, 2006 Blackbird, Please tell us how you can do anything to avoid taxes ? Link to comment Share on other sites More sharing options...
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