We have a flat in the UK in our joint names which we’ve owned since before moving to France 16 years ago (never lived in it). We are now selling it. We have just accepted an offer and (all being well) come August we will complete. We continue to live fulltime in France. Who do we have to notify here in France about the sale and what bureaucracy do we have to go through and by when?
Thanks for any info / advice.
Here you are. I think you have to fill in 4088 IMM but you get a tax credit for any capital gain tax you have paid in the UK. Since the French tax may well be lower than UK tax, and you won’t pay social charges as you have an S1, it is most likely a formality.
It’s too late to challenge my brain about whether the UK/France double tax treaty overrides this.
“Si la plus-value réalisée à l’étranger est exonérée d’impôt en France, vous ne devez pas souscrire de déclaration n° 2048 en plus du formulaire n° 2047”
https://www.impots.gouv.fr/particulier/bien-ou-vendeur-hors-de-france
There was a long thread on this back in 2020 entitled « Tax implications selling our house in the UK » in which mention was made of S1 holders being exempt from social charges on the capital gain but subject to « solidarity tax » at the rate of 7.5%.
Here’s the link to the form:
In it, you will see from Line 112 that the exemption from social charges applies only to CSG and CRDS. But not to the prélèvement de solidarité.
I was thinking of selling one of our rental properties recently but I took one look at the 2048 IMM form and - since we’re not S1 holders and therefore technically liable not only to CGT in the UK but also to full social charges in France - decided to keep renting it out.
Someone will correct me if I’m wrong but I think you have to file 2048 IMM within a month following the sale and then declare the gain again in 2047 for the relevant tax year.
Don’t forget you only have to pay CGT in the UK on any gain from the sale price and it’s value in April 2015, in addition both of you have an annual CGT allowance although this has been cut recently.
Thanks Tim, we know this and in fact it looks like we will pay little or no CGT.
There is of course an « abattement »
for French social charges, depending on how long you’ve owned the flat. Which reduces the charge to 0 after 30 years.
Am trying to find confirmation that this abattement also applies to the solidarity tax. Presumably it does.
It does, you can check by doing a test simulation
Excellent!
I’m also very interested in this topic as at some stage I’ll also be considering selling UK property currently rented out.
It would be very helpful I’m sure if someone was able to map out/list very clearly what the liabilities are, as personally, still unclear on how the CGT works with UK and France i.e do you only pay in UK or do you pay in UK and also pay in France if French CGT exceeds that paid in UK??
And social charges, I understand that one is exempt if an S1 holder, otherwise you are liable for social charges on a sliding scale over 30 years??
If anyone’s recently gone through the experience, it would be extremely helpful to actually ‘put this to bed’ with one clear explanation, as no doubt it wont be the last time the question rears its head 
The latter. You get a credit for any UK tax paid and you pay the extra in France if the French CGT is higher.
« I understand that one is exempt if an S1 holder, otherwise you are liable for social charges on a sliding scale over 30 years?? »
That is my understanding, too.
As you say, it would be great to have a single very clear explanation from someone who’s been through the process recently.
Although I think in our case I’ll wait until we’re resident in the UK before selling.
If you are not ready to sell then little point in analysing the position as it may well change! This is the nutshell version. We sold a place last year (or maybe year before, time flies)
Currently in UK you pay on any capital gains since 2015.
You then declare this in France, and only pay more if french tax on the gain is higher.
France has reductions for time you have owned property - 22 years for the tax and 30 years for social charges. After year 6 you get a % reduction each year. Note that is is subject to change!
An S1 gives exemption from CRDG and CDS, not the prélèvement solidaire.
Thanks @JaneJones , very clear. I don’t have a particular times scale set to sell, as very flexible, so want to understand the implications and assess the potential benefits, or lack of benefit, for keeping as I’m pretty fluid on this.
Thanks Jane. And everyone else who’s chipped in.
Worth noting for anyone thinking of doing this. We were astonished to discover that 2015 was the market peak for property in the UK and prices are still only just recovering. We have had a RICS surveyor value our property for 2015 so we have something to show the tax man in the UK and there is little or no difference in our current asking price.
Any capital gain is after any improvements to the property. We’ve had double glazing put in and changed the boiler - obviously receipts needed.
As @tim17 says, we jointly own and so we each have our tax allowance before CGT kicks in.
My question I guess is more about the timing of reporting to France - do we have to fill in forms for the French tax man immediately we’ve sold (which is likely to be mid- August, all being well) or do we wait until our next annual tax declaration? And is it just the tax office who needs to know?
By the way, we do have S1s.
From my experience, it is just the tax office who needs to know and you do have to fill in the form fairly promptly after you’ve sold. I didn’t but thenthat was because the tax office here (incorrectly) told me I didn’t have to do anything at all as I’d paid CGT in the UK 
You file 2048-IMM within one month following the sale.
Then you declare it again in your tax return. Obviously you won’t be taxed again but they need the figures in order to be able to determine your revenu fiscal de référence.
In our case for example it would probably mean my husband would become liable to the Puma tax because the capital gain would push his « passive income » over the limit.
From the impots.gouv.fr site:
POURQUOI DOIS-JE MENTIONNER SUR LA DÉCLARATION DES REVENUS MA PLUS-VALUE IMMOBILIÈRE ALORS QUE J’AI DÉJÀ PAYÉ L’IMPÔT ?
La plus-value imposable lors de la cession d’un immeuble a été déclarée au moment de la cession du bien.
L’impôt et les prélèvements sociaux de cette plus-value ont été acquittés lors de la cession.
Cependant, la plus-value imposable est retenue pour le calcul du revenu fiscal de référence, c’est pourquoi vous devez la mentionner en case 3VZ de votre déclaration de revenus en ligne (pour retrouver cette case, utilisez le moteur de recherche au début de l’étape 3).
Cette plus-value n’est donc pas imposée une seconde fois et n’est pas prise en compte pour le calcul du taux de prélèvement à la source.
MAJ le 08/03/2024
There’s no mention of form 2047 here because clearly they’re just thinking of capital gains on French property. But I think 2047 is where you would report any capital gain on a UK flat, possibly carrying it over to the main tax form.
I would report the amount in section 3 of form 2047.
And then carry it over to box 3VZ of form 2042C.
OH has decided to visit our local tax office next week to let them know we are selling our flat. Everyone’s contribution here is great thanks as he goes armed with info.
very wise… 
It is the absolute busiest period! Can you wait until 30th? As well as the tax deadlines there are so many public holidays in may that they will be seriously under pressure . You might get a more thoughtful response if you can wait.
Good thinking, Jane… although when I went in person… there was someone “sorting” those waiting… one room for those wanting to Declare and another room for those with general queries…
@SuePJ 's OH might like to go now, but locally the queues are always long until the deadline for Paper Declarations Deadline 21st May 2024… is finally over.