CGT - different angle

[KT]

First post after a lot of reading - great information here but coudln't find answer to my question:

I am British, living in the US. I am about to sell a property that I have owned for 7 years. During this time I lived in it as my primary residence from July 00 till August 01 when I was working in France. Since then it has been rented and I have filed annual french tax returns from my new abode in the US.

My understanding of the Fiche 14 exemption is that I need to have been continuously resident for 2 years. However it seems that the proof of this would be income tax returns for 2 years.....

So if I can show tax returns with full sets of contributions from 2000 and 2001, will I get away with claiming the exemption? Does anyone have any experience of this angle?

I also understand that I will need to have my tax position assessed by a Representative Fiscal. Can I choose who to use? If so, what should I bear in mind when selecting?

Thanks

Katie

[Will]

I would definitely say that you need to take professional advice on this; following the advice of the 'man down the pub' could open all sorts of cans of worms. For example, as a US resident, you could be liable for tax at 33% - the 16% rate only applies to EU citizens. It's my understanding, though I'm far from an expert, that as you aren't actually living in France at present you will be liable for the tax. And I think, though I'm ready to be corrected, that you can appoint any French taxpayer as a representative fiscal, but they have to be willing to act, in effect, as a guarantor - i.e. pay up if you disappear or default.

It may be difficult to get a definitive answer because different notaires, and different tax officials, will interpret complex rules like these somewhat differently. But a professional will be able to advise you what to do for the best.