Choochoo Posted October 3, 2004 Share Posted October 3, 2004 Hi Everyone We are now living in France full time - retired, and we rent out our old house in the UK. We have decided to give it two years and then make up our minds. If we still like it here we will sell the UK house and stay, if we dont like it we will sell here and go !. My question is what is the tax implication if we sell our UK house and stay here. Presumably it will be subject to CGT ? If so do they take into account paying off the existing mortgage, thereby obviously reducing our net profit on the house? There are probably a lot of people in France doing the same as us and this will be of interest to many.Thanks to all John & Sue (50) Link to comment Share on other sites More sharing options...
0Helen Posted October 3, 2004 Share Posted October 3, 2004 If you look at this site, www.frenchentree.com you will find some up to date information about the changes in the double taxation treaty, which should mean that by the time you get round to selling up you will not need to pay capital gains tax in either country. There are several articles which you may find of interest about tax and retiring to France. Link to comment Share on other sites More sharing options...
Jc Posted October 4, 2004 Share Posted October 4, 2004 If you wish to sell your UK house,declare it as your main and only house in the UK at that time,then no CGT. Link to comment Share on other sites More sharing options...
Hereford Posted October 4, 2004 Share Posted October 4, 2004 Speak to the ex-pats tax office in the UK. You may find that if you are absent from the UK for a complete tax yar then there will be no UK cgt anyway.Don't know about the French attitude though. Are you currently in the French tax system?Probably the best advice is to talk to one of the tax specialists who advertise in LF magazine.Hereford Link to comment Share on other sites More sharing options...
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