French Capital Gains Tax Reform:

BREAKING NEWS : European Court of Juctice has reached a decision on Prelevements Sociaux in favour of the tax payer. - Have a look on the decision : ECJ DECISION CURIA-C 623.13 - Please contact us at info@charleshamer.co.uk for an information pack on how we can prepare your appeal to recover Prelevements Sociaux paid during 2013 and 2014

Take a look at the latest news bulletins on French capital gains tax using the links below :

CHFS BULLETIN JUNE 2015 : APPEALING THE PRELEVEMENTS SOCIAUX : TIMETABLING THE RECOVERY OF PRELEVEMENTS SOCIAUX.

CHFS BULLETIN MARCH 2015 : APPEALING THE PRELEVEMENTS SOCIAUX : ECJ's DECISION.

CHFS BULLETIN DECEMBER 2014 : APPEALING THE PRELEVEMENTS SOCIAUX.

CHFS BULLETIN NOVEMBER 2014 : PRELEVEMENTS SOCIAUX - ADVOCATE GENERAL OPINION PUBLISHED.

CHFS BULLETIN OCT 2013 : PRELEVEMENTS SOCIAUX DEVELOPMENTS.

CHFS BULLETIN JULY 2013 : PROJET LOI DE FINANCES 2014 & CGT: MORE FRENCH CGT REFORM ON THE WAY PART 2.

CHFS BULLETIN JUNE 2013 : PROJET LOI DE FINANCES 2014 & CGT: MORE FRENCH CGT REFORM ON THE WAY.

CHARLES HAMER'S FINANCIAL SERVICES ROLE IN THE SALES PROCESS

If you are lucky enough, the sale of your French property will result in you realising a gain on your investment. The downside to this is that the gain will normally be assessable to tax in France and again in the UK if you are UK resident.

Until recently, it was often the case that the French tax payable fell below the corresponding UK tax due and, being available as a credit to offset against UK capital Gains Tax (CGT), in the wider scheme of things the amount of French tax actually paid wasn’t so much of a concern.

With the hike in the French tax rates which took place in August 2012 and January 2013 and the reduced taper relief effective from February 2012, this is no longer the case.

Consequently, there is now more of anincentive than ever to work at minimising the french tax liability.

Whilst - since 01/01/2015 - the notaire is usually the one responsible for calculating the french tax due and submitting the tax return ("2048-IMM"), they don't have any incentive to ensure such tax is at a minimum. Meanwhile with fiscal representatives having held the calculation responsabilities from 2005 until the end of 2014, many notaires will not be familiar with rules particular to non residents and will often not have the time or inclination to trawl properly through the reams of invoices and payment justifications needed for improvement works to be allowed as a deduction when calculating the gain.

Click here for a break down of the technical notes

In our experience, typically, the notaire will not: