Other than their main home, French residents pay capital gains tax on worldwide property at 19%, plus surtaxes, plus social charges (which are generally 17.2% but can be reduced to 7.5% for Form S1 holders).
What taxes do I have to pay in France?
There are three main types of personal taxes in France: French income tax (impôt sur le revenu) Social security contributions (charges sociales/cotisations sociales) Tax on goods and services (taxe sur la valeur ajoutée TVA, or VAT, in France)
Is the sale of real property taxed in France?
Article 13 of the French-US tax treaty states that capital gain on the sale of real property is taxable in the country where the property is situated. However, this taxation isn’t exclusive and the country of residency can also tax this capital gain.
What happens if I Sell my House in France?
Where property is sold by a non-EU, Iceland or Norway resident, they must use a tax representative accredited by the French Tax Authority to make a capital gains tax declaration. Don’t forget, if your main home is in France then your UK home may be regarded as a second home and therefore taxable.
Do you need a notary to sell a property in France?
You need to use a notary when selling real estate. They will calculate the tax due, withhold it at time of sale, then pay the tax for you. Where property is sold by a non-EU, Iceland or Norway resident, they must use a tax representative accredited by the French Tax Authority to make a capital gains tax declaration.
Do you pay French capital gains tax on UK property?
Should there be a French charge you will be entitled to the same relief on French capital gains tax as you would otherwise receive if the property was located in France. On that basis you will be entitled to relief based on the duration of ownership, and a credit for any tax paid in the UK.
