Bray man Posted December 26, 2008 Share Posted December 26, 2008 Has anyone come up with an explaination in English of the tax due on rental income from a leaseback property.I live in Ireland and want to pay the tax in France I just got a bill for over1000 euro which seems excessive and I do not want to pay an accountant for filling out a few forms.Any help would be great my French is not brilliant and I cannot find translations of the forms or guidelines it could'nt be that difficult! Link to comment Share on other sites More sharing options...
Daft Doctor Posted December 26, 2008 Share Posted December 26, 2008 Hi, for what it's worth I am quite 'tax savvy' as far as the UK is concerned, but the french tax system is much more complicated than you would imagine. I too have a leaseback property under construction and hate spending any unneccessary cash on professional advice, however I would strongly recommend it. The forms are bewildering and though advice is not cheap, it will probably save you at least as much in tax if you shell out. I have an english speaking french accountant, Angela Francoise, whom it may be worth speaking to. Her email is [email protected] I am sure if you search the forum there will be others. Good luck! Link to comment Share on other sites More sharing options...
giantpanda Posted December 26, 2008 Share Posted December 26, 2008 Hi!As you will find the matter is rather complex - it will also depend on how the contracts are worded;In all case ( but only in French, unless you happen to catch the " perle rare " who speaks English ) you will be able to get free information, if you go to your local Tax Office ( on consumers' day - usually in the morning ).This is quite a normal procedure in France, and there are no qualms to have about this.Yours,giantpanda Link to comment Share on other sites More sharing options...
NormanH Posted December 26, 2008 Share Posted December 26, 2008 What do you mean by 'tax'?Income tax?Taxe fonciers?CSG etc? Link to comment Share on other sites More sharing options...
Pickles Posted December 28, 2008 Share Posted December 28, 2008 An income tax bill of 1000 € would indicate a net rental income (after allowable expenses) of 5000 €, since you are liable as a non-French-resident person at a basic rate of 20% of the net rental income, unless you can show that if your worldwide income were taken into account in the French tax calculation, the RATE that would result would be less than 20%.Since you mention specifically a leaseback property, I have a suspicion that you may be expecting a tax deduction to which you may not be eligible ...RegardsPickles Link to comment Share on other sites More sharing options...
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