Juju Posted October 2, 2007 Share Posted October 2, 2007 We are in the process of selling our house in the UK & aren't (allegedly) getting hit by CGT. We have heard a rumour that if you transfer over £30k to France you get taxed 50%. Anyone know if this is true? Link to comment Share on other sites More sharing options...
Nick Trollope Posted October 2, 2007 Share Posted October 2, 2007 [quote user="Juju"]We are in the process of selling our house in the UK & aren't (allegedly) getting hit by CGT. We have heard a rumour that if you transfer over £30k to France you get taxed 50%. Anyone know if this is true?[/quote]It isn't. Link to comment Share on other sites More sharing options...
Cat Posted October 2, 2007 Share Posted October 2, 2007 Welcome to the forum Juju.I agree with Nick, it's not true. Where on earth did you hear that rumour? If that were really the case then anyone transferring money to France to fund a house purchase would be up the nasty, smelly creek without a paddle Link to comment Share on other sites More sharing options...
Juju Posted October 2, 2007 Author Share Posted October 2, 2007 Phew. Thanks for putting my mind at rest. Thought we were going to be living in a tent. We'd read something in a mag a while back & it was haunting us. We obviously (thankfully!) mis-read it! Link to comment Share on other sites More sharing options...
suein56 Posted October 2, 2007 Share Posted October 2, 2007 [quote user="Juju"]Phew. Thanks for putting my mind at rest. [/quote]Just do be careful how you transfer your money though. If it is a really large house-sized amount then through a broker might be best, and possibly cheaper than through some banks; though it all depends on the bank. You will always be asked where the money came from ie house sale and what it is for ie house purchase as that is the law. The law was tightened up again re revealing sources for transfers last Jan 1st so be prepared for an inquisition - it's not personal, just the law.Up to 50 000 euros can be transferred free of receiving charges imposed by your French bank - though some French banks will try and make a charge nontheless - as long as you use the correct IBAN codes.Good LuckSue [:)] Link to comment Share on other sites More sharing options...
Gluestick Posted October 2, 2007 Share Posted October 2, 2007 [quote user="Juju"] We'd read something in a mag a while back [/quote]Must have been Mail on Sunday Magazine and written by Julie Burchill! [:D] Link to comment Share on other sites More sharing options...
mint Posted October 2, 2007 Share Posted October 2, 2007 GluestickDo you really have to spoil my lovely evening by mentioning the Mail on Sunday AND Julie Burchill all in the same breadth? Come on, what have I ever done to you? Link to comment Share on other sites More sharing options...
cooperlola Posted October 2, 2007 Share Posted October 2, 2007 [quote user="sweet 17"]GluestickDo you really have to spoil my lovely evening by mentioning the Mail on Sunday AND Julie Burchill all in the same breadth? Come on, what have I ever done to you?[/quote]She's right,Gluey, how could you?Johneric. Link to comment Share on other sites More sharing options...
woolybanana Posted October 2, 2007 Share Posted October 2, 2007 Yet judging by the numbers apparently sold in my local Super U, it is the most popular paper amongst expats in France. Given what is here I find this totally unsurprising. Link to comment Share on other sites More sharing options...
Minouche Posted October 2, 2007 Share Posted October 2, 2007 Most of us buy it because it is cheapest and we get the crosswords and puzzles! It doesn't necessarily indicate our intellect!I resent paying over the odds for only part of the Saturday Telegraph and Sunday Times which is all we get. Link to comment Share on other sites More sharing options...
cooperlola Posted October 2, 2007 Share Posted October 2, 2007 [quote user="woolybanana"]Yet judging by the numbers apparently sold in my local Super U, it is the most popular paper amongst expats in France. Given what is here I find this totally unsurprising.[/quote]Sadly, Woolyb, I agree.[:(] Edit : Sorry, Minouche, we posted at the same time. But personally, I'd rather read newspapers I like on line, than pay for a paper I don't care for, crosswords or no. Link to comment Share on other sites More sharing options...
AnOther Posted October 12, 2007 Share Posted October 12, 2007 [quote user="spg"]You will always be asked where the money came from ie house sale and what it is for ie house purchase as that is the law. The law was tightened up again re revealing sources for transfers last Jan 1st so be prepared for an inquisition - it's not personal, just the law.[/quote]Hmm, I transferred £130k+ in mid January, from Lloyds to HiFx then to a Notaire in France. It had been transferred into my Lloyds A/C over the course of a couple of weeks from a number of sources but at no point in the whole transaction did anybody ask me where any of it came from. I think I probably told HiFx what it was for but that was about it, not quite what I'd call an inquisition...[Www]Obviously if you turned up at your bank with £xxx,xxx in grubby £10's & £20's questions might rightly be asked and I think in fact that the banks have an obligation to report deposits over a certain amount, but if it comes in by way of cheques or transfers from other recognised financial institutions I don't think too many questions will be asked.As an aside there are also some restrictions on paying for things in France in cashhttp://www.completefrance.com/cs/forums/946438/ShowPost.aspx Link to comment Share on other sites More sharing options...
Gastines Posted October 12, 2007 Share Posted October 12, 2007 Yes,ErnieY, on a house we sold here,the buyer,a german gentleman, was dragging his feet in paying the deposit ,so I phoned him [ the agent was apparently unable to contact him?] and said no deposit by Tuesday and the property is off the market till after next summer. He took a £15k deposit in cash across the border into France to pay it into a C.A. branch to transfer to the Notaire. The bank refused to accept it and he had to return to his bank for a bankers draft. Pity he didn't get the bank to do it in the first place unless he had the cash in a tin under the bed.Regards. Link to comment Share on other sites More sharing options...
Gluestick Posted October 12, 2007 Share Posted October 12, 2007 Sorry, Sweet and JE; only just picked this up!Also so sorry for ruining your evenings, but it just seemed to sort of slip out!BTW, JE, have a look at this motorsport forum: just noticed a post by Peter Wardle! Remember him?Have a wallow in some proper motor racing (look at the thread section called Motor Sports History).Umm...........http://www.ten-tenths.com/forum/index.php? Link to comment Share on other sites More sharing options...
ColinE Posted October 16, 2007 Share Posted October 16, 2007 Hi ErnieYWho or what are Hifx, is this a cheaper way to send moey to France ie paying for a house, can you give me any details of them. ColinE Link to comment Share on other sites More sharing options...
AnOther Posted October 16, 2007 Share Posted October 16, 2007 Hi Colin,www.hifx.co.ukThey are one of several similar firms about who specialise in money dealing and transfers.From memory it cost me £20 for Lloyds to transfer my money which was done almost immediately and then less than a week for it to arrive with the Notaire.There were no specific charges by HiFx, they make their money by shaving a fraction off the bank rate of the day, 0.05 I think it was but don't quote me.Bon chance Link to comment Share on other sites More sharing options...
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