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maximum tax free money allowed into France


Juju

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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?
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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

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[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 Luck

Sue [:)]

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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.

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[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.

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  • 2 weeks later...

[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 cash

http://www.completefrance.com/cs/forums/946438/ShowPost.aspx

 

 

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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.

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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?

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Hi Colin,

www.hifx.co.uk

They 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

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