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Hello,
As each may, I am sweating over my French income return and this time it's worse than usual as I have sold my UK ex-home (bought in 1988) and the value has risen considerably. Good News!
It seems as though this capital gains will not be taxable in UK, as it was sold in September 2014, before the new taxation law on capital gains on property for non residents becomes effective. However, I haven't a clue how to fill in the French income return. I don't know if I have to complete just the foreign income page (but how do I calculate it?) or should I complete the pages as if it were a French property? There are all sorts of "abattements" to calculate not to mention CSG, but it seems this would have already been calculated and declared on a special form by an "avocat" if the property was located in France. I am lost! Is any one out there familiar with this? I would really appreciate any words of wisdom.
Thanks!
Heather
 

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The very general principle with these things is that income (including gains and losses) on real property are generally only taxable in the country where the property is located. However, I am not sure if this is one of those things that you're supposed to put on your tax form - but then "exclude" as either not taxable in France, or subject to a tax credit equal to 100% of the tax the item generates.

Anyone here can help?
Cheers,
Bev
 

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Amazed! Thank you parsnippy (panais?....I love cooking them, roast in the oven. Not only do they taste good, but the smell brings back memories of childhood!)

The French don't seem to know about them or like them (pour les vâches?)

DejW

Hi,
As you had owned the property for more than 30 years there is no tax due , so you don't have to declare anything.

See here;

Section "plus-values exonerées" ; Impôt sur le revenu : déclaration d'une plus-value immobilière - Service-public.fr
 

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Sometimes those newsstand guides to doing your tax declarations can be very handy. There's nearly a whole page of "exonerations" for plus-values. Pain in the butt to read through to find one that fits your circumstances, but well worth the time and effort if you find what you're looking for.
Cheers,
Bev
 

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It's all very well looking at the tax guides for France, but you also need to be aware of the relevant tax treaty as some things just won't be taxable here, whereas the guide might lead you to believe that they are.
 

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It's all very well looking at the tax guides for France, but you also need to be aware of the relevant tax treaty as some things just won't be taxable here, whereas the guide might lead you to believe that they are.
It's actually a combination of the two, however. You have to have some idea what is reportable on the French forms - so you can correctly categorize your foreign source income between the options on the 4th page of the form:

  • imposables de source étangère ouvrant droit à un crédit d'impôt égal au montant de l'impôt français correspondant à ces revenus
  • exonérés pris en compte pour le calcul du taux effectif
  • revenus de source étrangère imposable à la CSG et à la contribution pour le remboursement de la dette sociale (CRDS) - of which there are now three different categories, where before it was 8% or nothing

Unfortunately, just because something isn't taxed someplace doesn't necessarily mean it isn't reported.
Cheers,
Bev
 

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It's actually a combination of the two, however. You have to have some idea what is reportable on the French forms - so you can correctly categorize your foreign source income between the options on the 4th page of the form:

  • imposables de source étangère ouvrant droit à un crédit d'impôt égal au montant de l'impôt français correspondant à ces revenus
  • exonérés pris en compte pour le calcul du taux effectif
  • revenus de source étrangère imposable à la CSG et à la contribution pour le remboursement de la dette sociale (CRDS) - of which there are now three different categories, where before it was 8% or nothing

Unfortunately, just because something isn't taxed someplace doesn't necessarily mean it isn't reported.
Cheers,
Bev
Agree - and that's what complicates things!
 
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