Howie Posted November 6, 2007 Share Posted November 6, 2007 Hi. My partner and I (not married) have a holiday home in France. We are selling and estimate that there will be a gain of approx €100,000. I know that the CG tax is 16%, but do we each have an individual allowance (as in the UK), which will reduce the actual amount payable? If so, how does this work?Thanks very much (in advance).H. Link to comment Share on other sites More sharing options...
andyh4 Posted November 6, 2007 Share Posted November 6, 2007 No - no personal allowances. You can offset any gains with full VATed invoices from artisans for any work done on the property. Link to comment Share on other sites More sharing options...
Panda Posted November 6, 2007 Share Posted November 6, 2007 Just to clarify, there is an allowance (abbatement) if you live in France but of course if you live in France they get you for 27% instead of 16% as a non resident. Link to comment Share on other sites More sharing options...
Nickel Posted November 6, 2007 Share Posted November 6, 2007 And it depends how long you have owned the property , every year after 5 years ownership allows you 10% off your Capital gain - so after 15 years there is no CGT. Link to comment Share on other sites More sharing options...
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