Al Fresco Posted July 8, 2006 Share Posted July 8, 2006 My wife and I intend to buy a house in France. At the moment we own a house in the UK which we intend to keep. This house is soley in my name. Our option with the French house is to buy in both our names, creating a situation where I have a second home, or for my wife to buy on her own, which leaves us each owning a house, one in France for her and one in UK for me. Can anyone advise as to any tax or other liability this may cause and which of the options creates the least liability? Many thanks Al Fresco Link to comment Share on other sites More sharing options...
Cassis Posted July 8, 2006 Share Posted July 8, 2006 I presume you are still going to be UK resident and paying UK tax and you won't be renting out the French house. In which case what sort of tax liability do you have in mind? Link to comment Share on other sites More sharing options...
Al Fresco Posted July 8, 2006 Author Share Posted July 8, 2006 That's correct. The french house will be a holiday home. As to what sort of liability.......well that's the question. I'd love to know the answer. Al Fresco Link to comment Share on other sites More sharing options...
Nick Trollope Posted July 9, 2006 Share Posted July 9, 2006 [quote user="Al Fresco"]That's correct. The french house will be a holiday home. As to what sort of liability.......well that's the question. I'd love to know the answer. Al Fresco[/quote]Wouldn't we all?You would have no liability to wealth tax (as you are not French resident).If you sell your primary residence at a profit, you are not liable to CGT (in France). If you sold a property registered solely in your Wife's name, at a profit you would not pay CGT in France, but you would pay it in the UK.I think that you need to consider inheritance before taxation.... Link to comment Share on other sites More sharing options...
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