by David Anderson, Sykes Anderson Perry Limited Solicitors London
This article is for general information only. You should only act or refrain from acting after receiving full professional advice on the facts of your particular case. This article does not constitute investment advice.
There has been a lot [...]
It is that time of the year when many people make New Year resolutions to improve their life in one way or another. Whether or not you make resolutions, this is a good time to consider whether you need to review your financial planning. [...]
A recent French case has followed the reasoning in the earlier EU decision that France should not charge non-residents social charges on sale. It is only a matter of time before France capitulates and changes its law so that foreigners do not pay 15.5% social charges on their gains on French property [...]
Osborne calls time on austerity Britain
George Osborne has declared that Britain was “walking tall again” in his pre-election Budget which helped savers and loosened the screws on public spending.
He declared Britain was on “the road from austerity to prosperity” and declared that Britain was “the comeback country”.
Growth projections were upgraded by less [...]
The personal allowance against Income from the UK for citizens resident abroad.
HMRC had proposed that the personal allowance for non-residents should be abolished.
I am reliably informed that this idea has been shelved.
G. Osborne stated so in the Autumn financial statement.
This does [...]
Removal of obligation to appoint tax agents on sale
Non-French residents are subject to capital gains tax in France on their real estate disposals. Until 31 December 2014 it was necessary to appoint a tax agent for sales exceeding €150,000 to calculate the gain. These agents would charge a fee, generally in the region of 1% of the [...]
Inheritance Tax Rates per beneficiary (Droits de succession)
Further to the Loi No. 2007-1223 there is no inheritance tax between spouses.
Between parents and children
Less than €100,000 0%
The next €8,072 5%
€8,072 to €12,109 10%
€12,109 to €15,932 15%
€15,932 to €552,324 20%
€552,324 to €902,838 30%
€902,838 to €1,805,677 40%
But the chances are there will come a time when you do need to make an overseas currency transfer – and when you do, you’ll want it done quickly, cheaply and easily. Because there are so many things that may require you to move money, and you never know where life will take you.
Brits looking to sell a second home in France are being urged to ramp up their efforts to find a buyer by summer, in order to benefit from a reduction in capital gains tax (CGT) that comes to an end at the end of August.
As part of an initiative to kick-start France’s slow property [...]
The UK Government has published its consultation document on the proposal to tax non-residents to UK Capital Gains Tax from April 2015. The consultation closes on 20th June 2014. The main points of the government’s policy are as follows, with our comments in italics. At the end of this article there are [...]