Thinking about selling your French holiday home? If so, make sure you’re up to date with the new capital gains tax rules first.
From this autumn, the tax is being applied to property sales of second homes in France unless you’ve owned your place for 22 years or more (reduced from 30 years).
There’s no change to the period of exemption from social charges – if you’ve owned your second home for 30 years, social charges don’t apply.
Supplementary capital gains tax, meanwhile, will continue to apply on gains over €50,000 (£41,943).
But if you sell your French property before 31 August 2014, you’ll qualify for a 25% discount on capital gains tax, social charges and supplementary capital gains tax.
Head to French-Property.com to read the full article and see a useful sample calculation of the charges.
The content of this blog is intended only to provide a summary of matters of interest. It is not intended to be legal advice.