Hello, Could someone suggest a company to give us advice with regards to selling a house in the UK. We are long term residents in France & this was a holiday home but never got round to selling it before we left.
Many thanks!
What sort of advice? Re capital gains tax here? Or in UK?
If just about selling then google is your friend. Local estate agent and a bit of research re current prices.
Many thanks Jane, It’s the CGT there and here that I need to get the info on!
regards
Beth
UK HMRC Link here: https://www.gov.uk/guidance/capital-gains-tax-for-non-residents-uk-residential-property
Link re French CGT here: https://www.french-property.com/guides/france/finance-taxation/taxation/capital-gains-tax/sale-of-property-abroad
Hope this helps.
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Many thanks!
I’ve now read through the links provided but I’m afraid I’m none the wiser. Is it possible to find something like a bi-lingual accountant that understands the options available?
Anyone gone down this route?
Many thanks
After reading the above official links one thing I would suggest if you’re not in a hurry would be to search seriously from later in the year.
France tax season is currently in full swing for filings by the whole country due to be submitted in next month or so. Any professional is going to be swamped.
Depending where you are maybe ask locally bank manager/notaire, the mairie may happen to know if there is anyone who does this locally. There is an English architect in a village nearby here - over the years so many people, French and English, have said he’s good or mentioned they have used him. Perhaps you could be lucky and find if there’s an accountant or tax specialist near you that has dealt with this before. Recommendation can work out better than expensive remote firms that advertise a lot… jus’ saying
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I did this with my share of my mother’s house, which admittedly only had a very small capital gain. But I recall that I found the HMRC instructions quite ok if you sat down with a cup of tea and took it step by step. And the French side was afterwards and also seemed ok…
Not sure what options there are, as if you make a gain on selling then you make one, so then have to report sale within 30 days.
Many thanks everyone for useful advice!
kind regards
We were Non-Resident for UK Tax when we sold our UK property. Whilst the UK gov site is clear, you should be aware that you are given about three different options to calculate the CGT payable. They are all valid but can produce very different amounts. It is worthwhile to do each calculation for comparison purposes, before choosing one for submission.
Many thanks, more scrutiny!
regards
Hello Beth. Hope this info helps, as I’m also in the process of selling my rental property in the UK. I’d recommend you find the most reliable/ recommended local Solicitor and Estate Agent that you can find, who will also value the property for you. The main problem being that most companies in the UK block overseas calls from their switchboard, so it means you having to do all the ringing around, but make sure they email you on a regular basis. In my area house prices have risen sharply since Brexit and there are very few left on the Market, due to the UK cutting stamp duty costs to first time buyers. i’ve discovered CGT is definitely payable in the country the property is located in, so I’m going to get my UK accountant to do the HMRC paperwork for me, as there are so many things you can off set against the profit you make on the sale, saving on your tax bill. Every little bit helps in Retirement. My handholder in France has also advised that you will need to let Impots know the sale value within so many months of the sale, and as ever there is a specific form to fill in. Bon Courage
Many thanks Carolyn, Would you mind sending me details of your UK accountant as we would prefer recommendations.
kind regards
Hi Beth, Of course I’ll message you their details, he’s based in Hampshire, and I’ve used the company for many years.
Many thanks, much appreciated!
regards
Beth
I would also suggest asking the question on the Strictly Fiscal FB group as they have a number of notaires, tax advisors etc on that group.