Best French Mortgage

With Capital Gains Tax in the news in the UK, here’s the French position.

No capital gains tax is payable to the French government on the sale of a principal residence by a French resident (and taxpayer) whatever their nationality. You just have to pay the Notaire’s fees and repay your French mortgage.

For second homes CGT is levied at 16% for EU residents with French residents paying an extra 11% social charges, while non-EU residents are charged 33%.  The Notaire will collect the tax at the point of sale.

However, capital gains tax is reduced progressively by 10% per year after 5 years’ ownership, so there is no tax to pay after 15 years. The cost of improvements carried out by French-registered contractors can be deducted from the capital gain between buying and selling prices. French residents also pay CGT on the sale of a second home, wherever it is situated. They too are exempt from capital gains tax on the sale of a second home after 15 years ownership.

If you are thinking of relocating to France, where Capital Gains are treated differently, Best French Mortgage can organise a mortgage for your French home at the best rates from the best French banks.

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