IWe need to take advice on the taxation (capital gains tax) on the sale of a property in the UK - we are French residents.
Our financial adviser (conseiller en patrimoine) tells me he has contacted the French tax office who told him that there is no CGT on the disposal of property in UK payable to the French tax authorities.
This is a verbal communication and I think it will be very difficult to obtain something in writing from the French tax office.
Everything I read on the internet says that in the Double Taxation Agreement, article 24 stipulates , for example :
Some people have been confused by the change to capital gains tax, as article 14 of the treaty, dealing with capital gains on property, states that it may be taxed where it is situated, so the UK, but the UK does not apply capital gains tax to non residents, resulting in no tax. What overrides this is article 24 of the treaty which states that there will be a tax credit for tax paid. Of course, there will be no credit since the gain is not taxed in the UK, thus making it clear that French tax is the only tax that matters.
(I know the UK position may change from April 2015 and that non UK resident will probably be taxed for CGT in the future)
I am a bit weary of the French tax authorities who originally told us we had to pay income tax on a private Irish pension in Ireland, which was totally incorrect.
Anyway, I am not looking for free advice but I also do not want to attract huge bills so I wonder if somebody on the forum can recommend a firm ? Are firms like Siddals and Blevins Franks, which seems to pop up a lot in related searches, reliable and bill reasonable fees ?
Thanks in advance,