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C’est la vie!
Key points
- In France capital gains are subject to income tax on the sale of immoveable property or an interest in it.
- Residents from outside of the European Economic Area are required to appoint a French tax representative when selling their French property.
- From 31 January UK residents will need to appoint a French tax representative – they typically charge 0.7% to 1% of the sale price.
- Taper relief on capital gains tax may be available.
- EEA residents are exempt from social security contributions but from 1 January UK residents will be liable at the full rate of 17.2%.
As confirmed by the French Directorate General of Public Finances (Direction Générale des Finances Publiques DGFIP) tinyurl.com/y68fp8o2 UK residents are now:
- subject to French social security contributions at the full rate of 17.2% (previously 7.5%); and
- required to appoint a French tax representative to guarantee their payment...
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