juxtapose Posted February 4, 2005 Share Posted February 4, 2005 I wonder if anyone could answer this question for us.We have property here in France and have completed 2 declarations of Tax in France also. My husband works here as an artisan.If we sell our property in England and buy a property with any profit in France, what Tax would we have to pay? Link to comment Share on other sites More sharing options...
Will Posted February 4, 2005 Share Posted February 4, 2005 You don't give not enough information for a definite answer. If you are selling what was your principal residence in the UK you should not normally be liable for tax. However, if the property was rented out it can change things considerably depending on how long you have been out of the UK. Even if the property was not let, tax liability can be affected by how long you have been a non-resident (or were 'not ordinarily resident') if you have not lived in UK for some time. If it was a second residence in UK then it will be liable to CGT. For the full story, ask your local inland revenue office for leaflet IR283 - "Private Residence Relief". If you intend to buy a second property in France - you say you already own property in France - then only one of these can be your principal residence and should you sell the other you will be liable to the French equivalent of CGT Link to comment Share on other sites More sharing options...
juxtapose Posted February 4, 2005 Author Share Posted February 4, 2005 Sorry, we have lived and worked here 18 months. The house in england has been let for 15months. Hope this helps Link to comment Share on other sites More sharing options...
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