Bannon Posted May 4, 2006 Share Posted May 4, 2006 I've been asked this question...If you are being chased by the tax people in the UK... and the worst comes to the worst, can they have a have a claim on your property in France and if so, would handing over the property to your kids protect it? Link to comment Share on other sites More sharing options...
Nick Trollope Posted May 4, 2006 Share Posted May 4, 2006 [quote user="Bannon"]I've been asked this question...If you are being chased by the tax people in the UK... and the worst comes to the worst, can they have a have a claim on your property in France and if so, would handing over the property to your kids protect it? [/quote]Yes (although I doubt if they would bother, unless you owe them more than the property is worth) and no.However, you can protect your principal residance (in France) against proceedings against you, by various means. Ask a Notaire. If yours is a secondary property, keep your head down! Link to comment Share on other sites More sharing options...
Iceni Posted May 4, 2006 Share Posted May 4, 2006 [quote user="Bannon"]I've been asked this question...If you are being chased by the tax people in the UK... and the worst comes to the worst, can they have a have a claim on your property in France and if so, would handing over the property to your kids protect it? [/quote]A creditor has the right to recover his money. Any attempt to avoid payment by fraudulent means is not recommended.Johnnot Link to comment Share on other sites More sharing options...
Bannon Posted May 4, 2006 Author Share Posted May 4, 2006 Of course a creditor has a right to recover money... if it is owed to them. The trouble with tax people is that their stick is bigger than yours and besides, have you ever tried arguing your case with them?Thanks anyway guys. Link to comment Share on other sites More sharing options...
Jc Posted May 6, 2006 Share Posted May 6, 2006 If you hand your property over to your kids you must go to a notaire who will do the paperwork,just as tho' you are selling the property(which effectively you are),he will want an official valuation of the property so he charges the correct fees and something that may get overlooked,your children must pay the bills(water,rates,EDF etc.) and have proof of this,otherwise the UK taxman will consider it all a fiddle. Link to comment Share on other sites More sharing options...
Iceni Posted May 6, 2006 Share Posted May 6, 2006 If transfer is an attempt to conceal/remove assets from reach of creditor(s) it IS a fiddle.Johnnot Link to comment Share on other sites More sharing options...
Bannon Posted May 6, 2006 Author Share Posted May 6, 2006 Ah yes Nick.... but even if it is a fiddle, can they do anything about it? And John, you sound a real bundle of fun - think I'll go back to my market stall and be nice to people. "Get your cabbages ere, four for a pound, lovely jubbly" Link to comment Share on other sites More sharing options...
Sunday Driver Posted May 6, 2006 Share Posted May 6, 2006 You've had some straight answers to your query, so why so prickly?Surely you don't see any perceived criticism being directed at you personally? Because, as you said "I've been asked this question".... Link to comment Share on other sites More sharing options...
Bannon Posted May 6, 2006 Author Share Posted May 6, 2006 Point taken. Link to comment Share on other sites More sharing options...
Nick Trollope Posted May 6, 2006 Share Posted May 6, 2006 [quote user="Bannon"]Ah yes Nick.... but even if it is a fiddle, can they do anything about it? And John, you sound a real bundle of fun - think I'll go back to my market stall and be nice to people. "Get your cabbages ere, four for a pound, lovely jubbly" [/quote]Did you mean me or "jc"? If you want some real information, see a lawyer, as what I am suggesting is no fiddle. I don't see why I should work for nothing, given your attitude. Link to comment Share on other sites More sharing options...
Fritz Posted May 7, 2006 Share Posted May 7, 2006 Unless you have been negligent and/or fraudulent in your dealings with the Revenue, after six years from the date of the relevant tax return, they cannot claim anything from you. Within this period they can issue a Discovery Assessment which extends the six year period and enables them to continue their pursuit. Even if this happens, unless the sum in question is sufficiently high to cover the costs of retrieval and that their case is cut and dried, ie. you really don't have a believable defence, then it's unlikely that the Revenue would ever seek to recover property in France.You do, however, have to live with the fact that you know whether or not you have have wilfully defrauded the British tax payer. Link to comment Share on other sites More sharing options...
Gluestick Posted May 12, 2006 Share Posted May 12, 2006 Also bearing in mind that if the circumstances are serious enough, then this moves the investigation from a civil penalty to a felony (crime) and then the whole matter changes.Additionally, the Revenue (and Customs) can invoke either/or the Proceeds of Crime Act and/or the money laundering regulations.Either can be quite heavy! Link to comment Share on other sites More sharing options...
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