Equity in France

[DBUD]

Hi,

We will be moving to France in the New Year and have some equity from the sell of our main residence in the UK. Can anyone advise me on if I would have to pay any TAX on this, if I was to put the money in a French bank account?

 

Many thanks

Darren

[BJSLIV]

You will be liable to income tax, and possibly social charges, on any interest earned. The amount and where you will pay it will  depend on where you are living at the time.

[DBUD]

Even if the house was sold in the UK? I was advised that this was not the case? I:E if I made let's say £150000 in the UK by selling my main residence? I would not be taxed capital gains?

So how can I be taxed in France if, I trnsfer the money directly from a UK account to a Notaires account for a property?

Sorry, but I am really confused.........I guess that is why I sent the question in the first place

 

Cheers

Darren

 

[Pucette<P><FONT face="Times New Roman" size=3>Pucette<FONT><P><FONT face="Times New Roman" size=3><P class=MsoNormal style="MARGIN: 0cm 0cm 0pt">"Qui ne connaît pas la campagne lhiver, ne connaît pas la campagne et ne connaît pas]

As the above posting states quite clearly that you would be liable for taxes and social charges on the interest earned; there is no mention of cgt whatsoever.

[DBUD]

Hi All

 

Sorry, I was a bit tired and shot from the hip, I guess , I will have to not make any interest, infact I probably will not as I will be buying a house in France straight away..

 

Many thanks again to all

 

DArren