lilly Posted June 26, 2008 Share Posted June 26, 2008 Can anyone tell me if Capital Gains Tax applies to selling all property in France? I joint own a house in France with my son and we would like to sell it. Neither of us own any other property in France or England. In England, C.G.Tax is only paid on a second home. Can anyone advise me please? Link to comment Share on other sites More sharing options...
Kitty Posted June 26, 2008 Share Posted June 26, 2008 There's lots of stuff in the Forum about this. Take a look at the threads:http://www.completefrance.com/cs/search/SearchResults.aspx?q=capital%20gains%20tax&f=&u= Link to comment Share on other sites More sharing options...
Sunday Driver Posted June 26, 2008 Share Posted June 26, 2008 If your French property is your principal residence on the date of the sale, then it is free of capital gains tax. Link to comment Share on other sites More sharing options...
lilly Posted June 26, 2008 Author Share Posted June 26, 2008 Would it be classed as our principal residence if we were living in it at time of sale, and had lived in the house for 2 consecutive years between us, but not at the same time? Are we assessed together or as individuals? Gets complicated !! Link to comment Share on other sites More sharing options...
Nick Trollope Posted June 26, 2008 Share Posted June 26, 2008 [quote user="lilly"]Would it be classed as our principal residence if we were living in it at time of sale, and had lived in the house for 2 consecutive years between us, but not at the same time? Are we assessed together or as individuals? Gets complicated !![/quote]I doubt it on that basis. Have you completed tax returns in France? or the UK? In the case of ambiguity, a Notaire is likely to use tax residency to establish "primary" residency (although the 2 aren't always connected.Ask a Notaire! Link to comment Share on other sites More sharing options...
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