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Old 07.05.2010, 13:39
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Papa Goose Papa Goose is offline
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Re: Selling a property in France to buy here

As part of your worldwide assets, you will have a potentially small tax liability on the assumed rental value of the property.

On sale, as the French property is no longer you main residence, you will be liable to tax on any profit at the time of sale (less potential deduction for certain improvements). There is a decreasing tariff applied after 5 years and it is taxed at zero after 15 years. This tax is calculated and paid in France, by the notaire IIRC and you get a net cheque which is after mortgage/tax/charges.

Good luck with your sale, and if you know anyone who wants to buy 3 houses near Cognac.....
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