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Stop and take advice on French property

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Stop and check with a professional

Pippa Weitz of PWT talks us through some of the recent topics connected with property. Amongst these are the changes to inheritance, the importance of where you are resident and the capital gains saving you could make.
Starting with the inheritance issue she explains what the rules are. She tells us you will certainly have heard about the changes that allow you to leave your French funds to whoever you like. However this does not mean a change in the tax regimes so although you can now leave your money to people outside the family you will still pay the same tax as before. We found this an important point to remember.
Inheritance aside, once you decide to sell your French property you will need to be able to show where you are resident for tax purposes. That means you will need paperwork to give to the Notaire. A few people feel they can duck the liability by avoiding showing any paperwork. Pippa warns us this can be expensive and you should take professional advice.
Capital gains connect very strongly to the residency issue and the tax will apply to any property that is not your primary residence so you can clearly see you need to show where you live and pay tax. She quotes some figures in this programme that may be useful to you as examples, but, as mentioned above, you must take professional advice and be sure that you know exactly what the situation is. If you need support then Pippa's website has lots of interesting articles, facts and information to get you started.
Expatsradio.com is always interested in your life abroad so perhaps if you'd like to tell us a bit more we can make some programmes that will be directly about your needs.
As always, Pippa has her finger on the pulse and apart from the buying and selling of buildings she also has a lot of very useful information available to the potential property investor.
Pippa will be making new programmes every month on topics you need to know about so don't miss her! She also runs seminars on important areas such as inheritance and you can book your place by dropping her a line via her website. www.normandyandbrittanylife.com
You can also contact Expatsradio via the contact link on every page of our website.
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