Happily you are wrong!! The 18 month rule still applies so if you sell before 6 October 2016 you should have no tax to pay. See here
Hello.
Thanks for that. We don’t want to wait until 30 years are up unfortunately.
You are quite right with the April tax but if we do have to pay in France the double taxation treaty offsets the English charge. Well that is our belief anyway!
Regards
NS
We are in a similar situation. We have been waiting to sell our UK property until this year because we will have then owned it for 30 years and therefore will not have to pay either CGT or Social Charges to the French gov on our "2nd home". However, you also need to be aware that that nice Mr George Osbourne changed the rules regarding the sale of UK properties by non-UK residents from April 2015 (it was slipped in to the budget but not widely reported as it doesn't affect the masses). So now, you will have to pay UK CGT on any profit since last April. I think that now overrules the 18 mth free period which used to operate and still continues to operate for UK residents. Check it out before making any final decisions. I'd be pleased to learn that I'm wrong!
Thanks.
We have engaged an advisor but thought recent actual experience if available could be extremely useful.
Regards
NS
Sadly I can't help with the French side of things. You might want to have a look at the Useful Links section of this website. At the top of the main page. Under finance there is a section on capital gains tax that might help.
As I said, once more people see your post I'm sure they will advise you. The best advice I can give is to find a professional adviser, everyone has the best of intentions but you may find yourself with conflicting advice.
I hope you get it resolved.
Hi Mandy
Thanks for your reply.
We understand the costs and possible reliefs on both sides of the Channel. I guess the question we are having difficulty with is that we are in rented accommodation and that becomes our primary residence and the English home now becomes a secondary residence. We are trying to find a legitimate way of not paying French cgt/ social charges.
Any more thoughts?
NS
From a UK perspective if you sell your home (your main residence) then the last 18 months of ownership is exempt from capital gains tax. So provided the property is sold within 18 months of you vacating it you should have no tax to pay. The rules are explained simply here https://www.gov.uk/tax-sell-home/absence-from-home
If it is likely to take longer than 18 months to sell your house then there is also a relief called lettings exemption for those who rented out their home. On the same link I provided above you will see section 5 "Relief if you let out your home"
Can't help you with the French side but I know there are people on here who can. Best of luck.
Hi Melissa,
I was very intrigued about your post …you still use this site ?
thx
Hi Pato and welcome to the forum
Please could you amend your Registration to show your First and Last Name (full name as requested in our Terms & Conditions). @cat