Specialist French tax agents, we register the French rental activity with the French tax authorities and complete the annual French tax returns on your behalf, ensuring any rental income derived from the French property is correctly submitted. In addition, when required, we can also complete the Foreign Income pages for the UK tax declarations.
Whether this arises from the disposal of French property by a non-French resident or the sale of a UK or other foreign property by a French resident, we are available to explain the tax treatment, compute the gain and tax liability and ensure that you meet your obligations.
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Are you already French tax resident or are you resident without realising it? Tax residents of France are obliged to declare worldwide income and gains, irrespective of whether some or all of that income receives a tax credit at a later stage in the assessment process.
The disclosure obligations are broad-based, the system of tax credits is complex and the scope for over payment of tax by the uninitiated is inviting. It pays to use a professional, at least for the first few years of tax residence.
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The reputation that France is a high tax country compared to the UK is misplaced. More often than not, particularly for those in retirement, the annual tax burden is lower. Nonetheless, the tax and social security implications of a move to France are far-reaching and it pays to understand them and to take action to mitigate or avoid their impact prior to any move.
Our in-depth knowledge of the French tax system, particularly in respect to the taxation of pensions and investments, means we are well placed to quantify your situation and identify areas of action to take prior to the move and avoid potential pitfalls.
The principle of charging an annual tax on the wealth of an individual or household is a recent topic of discussion for consideration in the UK but it has existed in practice for many years in France.
Although, for the French tax resident, its scope has been narrowed since 2018, for the non-resident the opposite is true. If the value of French property - or for a French resident, worldwide property - owned by your household, whether directly or via a company or trust, is around 1.3 million € or higher, then you need to determine whether you should be making annual wealthtax declarations.