Tax on the sale of a house

[Dave]

On the sale of a house in France, how much of the expenditure on renovation can be set against Capital Gains Tax (we unfortunately have an incomplete record of receipts), and how is the assessment of tax affected by the time that the property has been owned?

Thanks.

Dave.

[Will]

This has been answered many times. A search will throw up full information. Basically, if you have owned a secondary residence in France for less than five years then only proper TVA invoices from French-registered tradesmen for work on that house can be offset (not unregistered workers, or incomplete invoices, or materials-only invoices etc). After 5 years of ownership the notaire can apply a percentage of tax due, to offset costs of repairs etc. Also after 5 years the tax reduces by 10% per year, to zero on a house owned for 15 years or more.

[Sunday Driver]

You do not say whether your house is a secondary residence or your principle home.  If it is the latter, then the sale is exempt from CGT.