jo Posted November 22, 2007 Share Posted November 22, 2007 I have been back in uk since febuary and finally sold my french property completed nearly seven weeks ago i was told capital gains would have to be paid on 15000 euros so no money was handed over after four weeks was told i had to get a document from uk stating i was a english resident thats not going to be easy as delay from tax office then last week the notarier passed over part of my money but still not sorted the rest now they say i have to pay someone in france to act as power of eternity has any one else sold a house in france recently but resident in uk and going through this addvice please. Link to comment Share on other sites More sharing options...
BJSLIV Posted November 22, 2007 Share Posted November 22, 2007 If the house is being sold for more than 150,000 Euros , has been owned for less than 15 years, and you live abroad, then a guarantor is required to deal with the paperwork and ensure that any CGT is paid.There are a few companies accredited to do this and they will charge 1% of the sale proceeds for their efforts.Part of the proceeds will be held back until all this is settled up. Link to comment Share on other sites More sharing options...
woolybanana Posted November 22, 2007 Share Posted November 22, 2007 The 1% should cover all possibilities and no other money should be held back. There is some doubt as to the legality of the 1% charge by the way as it applies only to foreigners and is therefore a tax on foreigners and therefore illegal under European Law. Link to comment Share on other sites More sharing options...
AnOther Posted November 22, 2007 Share Posted November 22, 2007 My hat's off to both of you.I could only get as far as "power of eternity" in one breath so never made it to the end of the question..........[Www]Sorry jo, I tried to resist, honest [6][kiss] I'm guessing (hoping!) you're female [:$]EDIT: I dont make a habit of blowing [kiss]'s at men I mean, not a comment on the female condition..............! Link to comment Share on other sites More sharing options...
La vieille Posted November 22, 2007 Share Posted November 22, 2007 see http://www.completefrance.com/cs/forums/746327/ShowPost.aspxThis is for a maison secondaire however. If it was your main residence then I'm not sure this is applicable. Others will know better than I!We sold our maison secondaire for more than 150,000€, the notaire worked out the appropriate tax and we weren't referred on to anyone else. This was 11 months ago and we have had no comeback. We received our money less the CGT payable 4 days after the sale. Link to comment Share on other sites More sharing options...
woolybanana Posted November 22, 2007 Share Posted November 22, 2007 Minus the 1% charge? Link to comment Share on other sites More sharing options...
La vieille Posted November 22, 2007 Share Posted November 22, 2007 No! Have I got away with it or must I still sit wait to hear?! The latter I guess! Link to comment Share on other sites More sharing options...
woolybanana Posted November 22, 2007 Share Posted November 22, 2007 My notaire told me it would be levied at the moment of sale. You may have got away with it but dont be too sure. It is only a means of protecting notaires I think. Link to comment Share on other sites More sharing options...
BJSLIV Posted November 22, 2007 Share Posted November 22, 2007 The 1 % isn't a tax in itself , its the fee for a Fiscal Representative. That being the case I don't think Europe could question it. Its a device to prevent anyone dodging their tax liabilities , and they do offer alternative guarantees, such as the purchaser accepting any liability in case of default.(!)There seems to have been more rigorous enforcement of this bit of law in the last 12 months, prior to that it seemed to have lapsed once the new Notaire calculating the taxes system came in in 2004.If your Notaire didn't appoint a representative, its his look out if you did a runner without paying any tax due, so I can't see you being require to pay now.As far as the original questioner is concerned, I suspect that they have fallen foul of the sytem as they are no longer resident in France. If they had been selling their residence whilst still resident in France then there would have been no liability at the date of the sale. Things now get more complicated because of the lapse of time so a cautious Notaire is covering his back. Unfortunately you still have to pay the Rep even if no tax is due.Gory details here.......http://www.sarf.fr/fichiers/8m2041.pdf Link to comment Share on other sites More sharing options...
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