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Volte face
Key points
- The French Revenue has announced a reduction of social security contributions charged on the sale by UK residents of French homes to pre-Brexit levels.
- Taxpayers unlawfully charged are entitled to a refund within the period expiring on 31 December of the second year of the chargeable event.
In the article ‘Tax increase for French homes’ Taxation (11 February 2021 page 17) I explained the effect of a French Directorate General of Public Finances (Direction Générale des Finances Publiques (DGFIP)) directive which meant that UK residents looking to sell their French second home saw their exposure to social contributions significantly increased by the end of the Brexit transition period on 31 December 2020 (from 7.5% to 17.2%). In an unexpected move the French Revenue is reverting to its pre-Brexit position. This presents an opportunity for a recap on this controversial issue.
To recap
Social security contributions...
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