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Buying in France
CGAG
Posts: 1 Newbie
Please could anyone let me know if I would have to pay taxes in England, in case I buy a property to let in France and get my mortgage with a bank in France.
I live and work in UK.
Thanks in advance for your advice.
I live and work in UK.
Thanks in advance for your advice.
0
Comments
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Hi, don't take this as gospel, but I think if you are earning/living in England, then any profit you make on rentals abroad is just added to your UK profit and taxed in the UK.
Of course you still have to pay (IN EUROS IN FRANCE) the 8% Notaires fees (including taxes) for buying in France (15% if you use an estate agent...).
Hope that gets the ball rolling. Where are you thinking of buying? I live in Paris and the rental market is good here (for property owners)...
Al.0 -
They have a LEASE BACK scheme in France which is a Guaranteed Rental. You buy a property ,The developer takes it off your hands for a minimum of 9 years. You can claim the VAT back, around 15% .They rent it out. They pay you 4-7 % PA. After 9 years(I think) you are exempt from Capital gains Tax if you sell it0
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