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Capital Gains Tax Implications 2nd Home France
Germalanges2002
Posts: 2 Newbie
Having purchased a house in France in 2002 for €14,500. We have spent in excess of €220,000 totally renovating it and improving it. It has just sold for €199,000. Do we have to pay capital gains tax in France, the UK (neither as we are selling it for less than we have spent on it), or both France & the UK?
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Comments
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Do you have full paperwork (quotes, invoices, bank statements etc) backing up your assertion you spent more than 220,000 euros doing it up?
(ie no cash in claw deals..)0 -
Yes, we kept nearly every single invoice for all the renovations. We had hoped to sell it with furniture, electrical appliances etc. but they don’t want them. I have an excel spreadsheet and we are in excess of €220?0
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