Don’t rush. It will fall into place with time, and changing priorities.
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That is untrue, unless I’ve misunderstood what you are saying this in relation to.
Tax foncière is payable by the owner of a property, regardless of the status of that property (i.e. main or secondary residence).
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Be aware of capital gains on property sold in uk once you are resident in france. Also extra costs associated with buying property here and extra costs of a second home here.
Quite apart from unpopularity with french residents of buying up property their families might like in order to turn them into holiday homes. Speculating on property here is not popular with locals especially in an area where prices are rising.
Don’t know if this has already been mentioned but am I correct in thinking the property you already own in the UK is a house? And that this would be traded for a flat in France?
If so, don’t forget to factor in building charges for the French flat. Ours are very reasonable (we have a syndic bénévole) but they can be hefty. Especially if you have a lift. And unlike with a house, you have very little control over what work gets done. And when.
Our building is about to get a new roof - which I’m happy about because it needs it - but the cost to each household is €20k.
Not a problem in our case - it’s our home and we want it well maintained - but bills like that would soon wipe out any profit you’d be making from renting it out.
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@Helenochka Hi Helen,
Thats right, it would be a flat. I am speaking to a mortgage advisor now to see what i will be looking at for next term, keeping UK house.
Looks like french cgt starts getting discounted from year 6 which is next year.
I may change my management company though as they are quite a big cause of my discontent with the UK house!
Definitely try changing your management company before you decide to ditch the UK house. An honest, efficient manager makes all the difference. Anyone in the area you can ask for a personal recommendation? We found our manager by word of mouth. She’s been wonderful.
Because the residence nil rate band simply does not apply to people living outside the UK. in your example presumably your mum and dad are resident in the UK and their main home is in the UK, therefore the residence nil rate band applies. It’s their RNRB not yours!
Obviously it’s not mine. But the allowance would be applied to the estate from which the heirs (my brother and I) would benefit. Regardless of where we live.
If the deceased were resident in France when they died, I don’t suppose any of the allowances available to deceased UK residents would apply. The long arm of the French taxman would reach out to take in the person’s worldwide assets, wouldn’t it?