Selling part of properety and tax implications if any

[Racerbear02]

7 years ago we bought our corps de ferme which consists of two separate and distinct houses.

We live in one and have just basically closed the door on the other, we pay fonciere for both but habitation on only the one we live in.

I have been approached by a neighbour to sell him the unused house.

If I go ahead and sell this second house, will I be liable to CGT or any other taxes on its sale?  I don't see us making a 'profit' on this, the sales price will be broadly the same proportion of the overall property as when we bought it, and prices have not risen THAT much.

Any advice welcome.

Thanks in advance

[Gastines]

The simple answer is surely, as you will have to have a Notaire to deal with the sale.he/,she will advise you of any tax payment and costs if asked?

[Panda]

The way this situation was treated for me was that the notaire 'valued' the 2nd house at the same price as when I bought with a very small uplift giving an almost nil CGT requirement.  He advised it was better to show something of an increase so that it is seen the CGT matter was looked at. 

I would advise you to decide the valuation at purchase and today before going to the notaire and present him with these facts in case yours is not as helpful and mine was.

[Racerbear02]

Thanks Panda

That is just the sort of advice I was looking for

Ta