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If you are a UK tax resident then you normally have to pay UK CGT on the sale of property you own anywhere in the world. There are two exceptions to this rule: You are UK tax resident but not UK domiciledThe property is in a country that has a double tax agreement with the …
The other sections of this guide on French property CGT has focused on what happens in France when you sell a property. This section looks at what happens in the UK. There are two situations to consider: 1. UK tax residents selling French property 2. French tax residents selling UK property This content is only …
There are three capital gains tax returns to submit depending on the type of property you have sold – buildings, land or property companies. These are the forms that need to be completed for each type of property: Form 2048-IMM – for declaring CGT on buildingsForm 2048-TAB – for declaring CGT on land aloneForm 2048-M …
In the previous section I showed you how to calculate the capital gain. There, we calculated two gains: the ‘tax gain’ and the ‘social charges gain’. In this section I will show you how to calculate the total CGT charge. Once you understand how the calculation works you can try out the French property CGT …
When you sell your property, there are two gains that need to be calculated: Tax gainSocial charges gain These gains are important because they will be used as the basis for calculating the tax you will pay on the sale of your property. The only difference in their calculations is the taper rates used to …
1. Owning a property for 30 years or more This is an indirect exemption due to the way the taxable French capital gain is calculated. The first step in calculating the gain is working out the difference between the sale price and the cost of the property. Assuming it is positive, this number is then …
There are two exemptions available to those who used to live in France, regardless of nationality, but are no longer resident in France for tax purposes: Exemption for former main home in France.Exemption for any French property. 1. Former main home in France This exemption is quite recent, introduced in 2019. It is aimed at …
Exemptions available only to non-French residents Read More »
Below are the three areas where French property CGT exemptions apply to French residents: Selling your main homeA reinvestment exemption when selling a property that is not your main homeElderly or disabled adult, in a care home 1. Selling your main home If, at the time of sale, the property is your main home then …
You can be exempt from paying French property CGT for a range of reasons. This can depend on whether you are a French resident for tax purposes, or if you used to live in France, and there are also several exemptions that are available to everybody regardless of residency. These three articles cover these situations …