Tia Posted September 7, 2011 Share Posted September 7, 2011 HiCould anyone work out for me what I would receive in my hand if I sold my french house I have tried so many times to work everything out from advice people having given me and I am tearing my hair out. I have recd an offer of euros 133,000 (which is less the estate agents fees of 13,000) purchase price of house euros 112,000 balance on mortgage euros 89,000, purchase costs approx euros 14,000. I live in the uk and have owned the house in France for 5 years now.Any help woould be appreciated.Thanks Link to comment Share on other sites More sharing options...
Panda Posted September 7, 2011 Share Posted September 7, 2011 I make it about 42600 in your hand less any notaires costs which are minimal in sales transactions.AssumptionsSecond homePurchase price (112) did not include purchase costs (14) (agents or notaires)Offer of 133000 already has agents fees deducted, if not take these off of the above (42600) Link to comment Share on other sites More sharing options...
Tia Posted September 7, 2011 Author Share Posted September 7, 2011 Many thanks for that, yes assumptions are correct. My asssumptions your calculations included french capital gains tax ? Link to comment Share on other sites More sharing options...
Will Posted September 7, 2011 Share Posted September 7, 2011 It is likely that there will be an early redemption fee on the mortgage, and maybe legal fees will be payable too, depending on the conditions of your loan. Link to comment Share on other sites More sharing options...
NormanH Posted September 7, 2011 Share Posted September 7, 2011 You will be aware that the situation about tax on added value (Capital Gains in UK terms) on seconf homes is very fluid at the moment.A couple of weeks ago it was announced that the 15 year rule was being abolished and replaced by a rule based on Inflation, then this week the rule has been re-instated but based over 30 years.You can read about it in the link I posted in the thread a couple of days ago.. Link to comment Share on other sites More sharing options...
pachapapa Posted September 7, 2011 Share Posted September 7, 2011 Completed sales before the february 2012 deadline will be subject to current rules. Link to comment Share on other sites More sharing options...
Jon 1 Posted September 25, 2011 Share Posted September 25, 2011 Does anyone have an up to date reference on the deductible 15% from CGT for property improvements i.e. without the need to provide receipts?How does one advise the Notaire of this 15% rule? Link to comment Share on other sites More sharing options...
parsnips Posted September 26, 2011 Share Posted September 26, 2011 [quote user="Jon 1"]Does anyone have an up to date reference on the deductible 15% from CGT for property improvements i.e. without the need to provide receipts?How does one advise the Notaire of this 15% rule?[/quote]Hi, If he's any good the notaire should be advising you of it. The reference is RMJOAN 18.3.08,n°10501. Link to comment Share on other sites More sharing options...
pachapapa Posted September 26, 2011 Share Posted September 26, 2011 RM JOAN 18.3.08,n°10501 Link to comment Share on other sites More sharing options...
Anton Redman Posted September 26, 2011 Share Posted September 26, 2011 http://www.leparticulier.fr/upload/docs/application/pdf/2011-01/gf57_137-147_plus_values_immobilieres.pdf Link to comment Share on other sites More sharing options...
pachapapa Posted September 26, 2011 Share Posted September 26, 2011 Ceux que vous avez réalisés vous-même ou faitréaliser par une tierce personne autre qu’uneentreprise ne peuvent pas être pris en compte,pas plus que le coût des matériaux que vous avezachetés, même s’ils ont été installés par uneentreprise. Si vous cédez un appartement dansun immeuble collectif, vous pouvez aussi tenircompte des travaux sur ses parties communes.Enfin, si vous vendez un bien que vous donniezen location, vos dépenses d’amélioration ayantgénéré un déficit foncier non imputé à la date dela vente majorent également votre prix d’achat.En principe, les travaux ne sont retenus que sivous pouvez les justifier. Toutefois, lorsque vouscédez un immeuble bâti plus de 5 ans après sonacquisition, le fisc vous autorise à majorer forfaitairementson prix d’acquisition de 15% autitre des dépenses de travaux, sans justificatifs(RM JOAN 18.3.08, n°10501).[;-)] Link to comment Share on other sites More sharing options...
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